A compliance audit is review of an organization done by regulators to see whether all the regulatory guidelines are followed or not. Audit reports evaluate the strength, security policies, user access controls and risk management procedures of an organisation dealing with compliance audit. Professionals at Compliance auditing services evaluate the takes care external and internal regulations while being in sync with the values, ethics and culture of the organization.
Information examined in a compliance audit varies depending on whether an organization is a public or private company. Procedure for both is different. But Professionals at Compliance auditing services identify weaknesses in regulatory compliance processes and create paths for improvement and betterment of organisation.
There are many Compliance auditing services in Ahmedabad which help to reduce risk and save organisation from legal troubles. Compliance auditing services in Ahmedabad has its reach all over Gujarat. Compliance auditing services in Gujarat caters to the needs of top businesses located in Gujarat.
Mandatory Annual Compliances for companies in India are Appointment of an Auditor, Statutory Audit of Accounts, filing of Annual return, filing of financial statement, holding annual general meeting and preparation of director’s report.
Besides Filing Annual Compliances for companies , there are various other compliances which need to be done as and when particular event takes place in the Company like:
Annual Filing for companies means Companies incorporated under the Companies Act 1956 or Companies Act 2013, are required to file the eforms with the Registrar of Companies (ROC).Filing of eforms require to submit information of company’s balance sheet and profit and loss and other financial statements.
The company that does not submit the annual return with the ROC for a period of time then Company might be considered a defunct company and will be liable to pay a heavy penalty for days past the due date. Thus responsibility of Annual Filing for companies is given to professionals. Annual Filing for companies in Gujarat is mainly done by professionals. As Ahmedabad is hub of big industries Annual Filing for companies in Ahmedabad is handled by professionals.
The due dates for Annual Filing for companies of a company are based on the date of the Annual General Meeting. The continuous failure of Annual Filing for companies may lead to the removal of the company’s name from RoC’s register, including disqualification of directors. Also, MCA has taken many steps for dealing with any such failures.
As businesses in Gujarat and has very strict regulatory environments, organizations face emerging risks that challenge traditional strategies and assumptions. Annual Compliances for companies in Gujarat generally appoint professionals for filing their annual compliances. In a strict regulatory environment, resilience is the key to organizational survival, and companies need to balance governance, risk-management, regulatory compliance, and performance. Thus need of Annual Compliance Auditing in Ahmedabad is handled by Annual Compliance Auditing service providers.
Annual Compliance for Companies in India is mandatory irrespective of the turnover, whether it is zero or in crore. Whether a single transaction is undertaken or no transaction is undertaken, annual are mandatory for every registered company.
If there is delay in filing Annual Compliance for Companies, then additional fees is required to be paid, which keeps on increasing as the time period of non-compliance increases. It is also important to note that some of the Annual Filing Forms can also be revised but the fees for subsequent revised filing shall be charged, assuming it as a new filing.