Write short notes on the following: (ii) Risks associated with non-compliance of law.

CS Professional · Secretarial Audit, Compliance Management and Due Diligence · PYQS · December 2019
Write short notes on the following: (ii) Risks associated with non-compliance of law.

Answer & Explanation:

The various risks that a company may be exposed due to non-compliance of the laws are as under: Cessation of business activities Civil action by the authorities Punitive action resulting in fines against the company/officials Imprisonment of the errant officials Public embarrassment Damage to the reputation of the company and its employees Attachment of bank accounts.

Topics: Compliance Management

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