The word compliance is derived from the verb ‘to comply’, which means, ‘to act in accordance with the rules’.
In the context of financial services, it therefore refers to the need for those organisations that transact regulated activities to abide by the terms of government.
Regulated companies normally have a compliance department, headed by a Compliance Officer, whose role is to develop policy and practices that ensure all obligations and regulations are adhered to, as well as ensuring that no conflicts of interest arise within the organisation.
The compliance management is also responsible for maintaining the company’s relationship with the government.
Why a compliance management services is necessary for your business
A compliance management system isn’t just necessary for financial purposes, all big and small business are exposed to risks.
While having a risk, management strategy isn’t enough, a compliance management system is required to cover all the policies, taxes and laws abiding when it comes to protecting a company.
Why MBS’s Compliance Management Service
Our compliance system offers you cost effective tools which strengthens the compliances and also effectively manages the effectively manages legal issues related to any employees.
Our system keeps track records of all employee’s information, Provident fund, EPF calculations, details of pension schemes, employee state insurance, maternity benefits and labour laws.
Our experienced team of professionals makes sure of all of the statutory requirements are updated in the software. Our team works professionally, managing your company’s compliance without any kind of lags, glitches or any kind of incorrections.