Governance Advisory
The firm handholds its clients to achieve high levels of corporate compliance and governance. It is worth mentioning that the Companies Act, 2013 has adopted a Governance based approach in conducting the affairs of the company. Under Section 134 (5)(e) in the case of a listed company, the Directors Responsibility Statement shall include a declaration from Director that internal financial controls to be followed by the company and that such internal financial controls are adequate and were operating effectively. Section 143 (3) (i) requires the auditor’s report to state whether the company has adequate Internal Financial Control (IFC) system in place and the operating effectiveness of such controls. According to Section 177 (4) (vii), the Audit Committee shall act in accordance with the terms of reference specified in writing by the Board pertaining to evaluation of IFC. Section 177(5) requires the Audit Committee to call for the comments of the Auditors about the Internal Control system before submission to the Board. Section 149(8) read with Schedule IV of the Companies Act 2013, puts the onus on Independent Directors to ensure that the financial controls and risk management systems are robust and defensible.
Corporate Compliance Management advisory and execution provided by SVVS adds substantial business value to the client. The systems and processes advised by us facilitate corporates to achieve high levels of compliance with regulatory and statutory requirements.
 
 
 
 
     
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