Write short notes on Significance of Corporate Compliance Management.

Corporate Compliance Management is significant to ensure the following: Better compliance of the law. Real time status of legal/statutory compliances. Safety valve against unintended non compliances/ prosecutions, etc. Real time status on the progress of pending litigation before the judicial/quasi-judicial fora. Cost savings by avoiding penalties/fines and minimizing litigation. Better brand image and positioning of the company in the market. Enhanced credibility/creditworthiness that only a law abiding company can command. Goodwill among the shareholders, investors, and stakeholders. Recognition as Good corporate citizen. Positive results at several levels.