Who Needs Compliance Risk Audit Service?
Compliance Risk Audit Services are important for businesses and industries that handle sensitive information, provide critical services, or are regulated. This includes financial institutions, healthcare organizations, manufacturers, technology companies, and retailers.
At Rane & Associates, our team of expert compliance consultants offers assistance in understanding labour legislation compliances for your business.
- Business start-ups
- Mergers & acquisitions
- Closure of business, legal entity, factories, offices, mines etc
- Varied business models
- Businesses with a presence across different locations
Why Do You Need Compliance Risk Audit Services?
- Identify and Address Risks: By using Compliance Risk Audit Services as part of their GRC (Governance, Risk Management, and Compliance) framework, organizations can gain a better understanding of their compliance status and reduce the risk of fines, legal actions, and damage to their reputation.
- Ensure Compliance: Regular compliance risk audits ensure that organizations meet regulatory requirements and stay updated with any changes in regulations.
- Prevent Penalties and Fines: Non-compliance can result in legal penalties, fines, and costs that can negatively impact an organization. By identifying and addressing compliance risks, organizations can avoid these expenses and protect their financial standing.
- Build Customer Trust: Compliance Risk Audit Services help organizations demonstrate their commitment to compliance, fostering trust with customers, stakeholders, and investors.
- Enhance Operations: Compliance risk audits also help organizations identify areas for improvement and inefficiencies in their operations, leading to increased efficiency, productivity, and profitability
What We Do?
- Compliance consultation for labor and industrial laws
- Assessment of financial, prosecution, and reputational risks related to labor and industrial laws
- Consultation on minimum wage, employee compensations, gratuity liabilities, ESI liabilities, EPF liabilities, bonus liabilities, and more
- Expert consultation for decision-making and course correction
- Compliance risk audit and assessment for companies and boards of directors
- Expertise and guidance for effective management of governance, risk, and compliance programs in organizations