You are a Company Secretary in XYZ Ltd. and also the Corporate Compliance officer of the said company. The Chairman of the company directed you to prepare a report on the compliance activities under compliance management

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2021
You are a Company Secretary in XYZ Ltd. and also the Corporate Compliance officer of the said company. The Chairman of the company directed you to prepare a report on the compliance activities under compliance management. What are the activities to be included in the report ?

Answer & Explanation:

The Corporate Compliance Officer is the custodian of the Corporate Compliance Plan. The Corporate Compliance Officer should report on the compliance activities that include but not limited to- To establish and review the centralized compliance program in tune with the business environment strategic decisions of the company and the regulatory amendments; To guide and educate the Board on various compliances, regulatory and policy based compliances. To devise clear compliance structure; Liaison between Board, Functional heads and compliance staff; To advise the compliance department regularly and as and when required; To devise annual compliance plan; To define the role and responsibilities of functional units and disseminate the information; To organize training for the Board and the staff on ethics and compliance; To establish and strengthen the compliance dashboard; Inform the board and the functional departments about changes in the applicable regulatory landscape and its implications; To establish processes for effective monitoring and control; To present quarterly compliance report before the Board.

Topics: Compliance Management

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