Legal Compliance Audit & Legal Advisory Services

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Legal Compliance Audit & Legal Advisory Services

Proper, flawless, and secure legal compliance audits, are the backbone of any efficiently and profitably smooth running business, in any field, or anywhere in the world. These are legal compliance audits which help the management of the business, in making the most productive, perfect, efficient, profitable, visionary, and truly impeccable arrangements, for optimal progress and growth of business and company, besides remaining bold, complacent, and safe, always.

Ever-growing competition in almost all fields of business, at regional, national, or international levels, further demands rigorous and punctual compliance to all regulatory and governing authorities, in order to do business freely and meticulously for overcoming and tackling such competition. Our clients of almost all sectors of commerce and economy, and most of the major and successful companies and corporations of the world, understand deeply and exclusively these vital and revolutionary facts, for peaceful, booming, and hugely lucrative business.

A legal audit may be performed on a periodic basis as part of an ongoing compliance program or may be performed in connection with a specific event, such as a financial audit, or in connection with a specific transaction, such as an acquisition or securities offering. There are also specialized legal audits in specific areas, such as tax; labor and employment; estate planning/asset protection; government contracts; franchising compliance; and environmental law. The mechanics of the legal audit and a sample questionnaire are listed below.

Mechanics of a legal audit

  • The Preliminary Questionnaire. The legal audit should begin with a comprehensive questionnaire for the company's management team to review and address prior to the arrival of the team of attorneys who are to conduct the legal audit.
  • The Initial Conference. Once the documents and related materials requested in the questionnaire have been assembled and problem areas preliminarily identified, a meeting should be scheduled between audit counsel and the designated officers of the company who are well-versed in the various aspects of its operations. This initial series of conferences is an information-gathering exercise designed to familiarize the legal auditor with the most current information about all aspects of the company. In addition to these conferences with key personnel, the audit team should perform some on-site observations of the day-to-day operations of the company. The legal audit team should also review the current financial statements of the company and spend some time with the company's accounting firm.
  • Implementation of the Post-Audit Recommendations. Once the legal audit team has issued its post-audit evaluation to the management team, the entrepreneur can implement the recommendations of the report. In addition, the company can establish a "tickler system" for periodic reporting and key dates/deadlines, as well as a time set for the next legal audit.

    • Risks of not complying

    The failure to have an independent legal audit performed by qualified legal counsel can have a significant adverse impact on the company and its founders. The risks of non-compliance with these many laws and regulations include:

  • Failure to keep proper books and records or mixing personal assets with business assets could lead to the ability by third parties to "pierce the corporate veil," thereby removing the limited liability protection of a corporation or LLC, or even to litigation among co-owners.
  • Failure to obtain all proper permits and licenses could lead to fines, penalties, and, in some cases, even closure of the business by governmental agencies.
  • Failure to comply with certain laws and regulations may lead to problems under federal law with agencies such as the IRS, the EEOC, the EPA, and even the SEC.
  • Failure to have employment applications, personnel handbooks and general employment policies reviewed periodically could give rise to governmental and civil liability.
  • Failure by the directors of the company to keep accurate records and minutes of its decision-making procedures, such as proving that directors are exercising informed judgment, could subject the company and its board to liability to its shareholders and investors.
  • Failure to monitor the company's reporting requirements may put the company into default with lenders or investors.

    • The process of going through a legal audit isn't easy, but the risks associated with avoiding the issue are too high for any company to bear. Doing so is not only necessary, but beneficial. It is the entrepreneurial company's reality check.

    Proper and timely compliance to all concerned rules & regulations, laws, and recommendations of governmental authorities at State, Federal, and International levels, these legal compliance audits greatly help in the assessment, regulation, and best possible management of all ongoing operations and activities, business plans and policies, short and long term goals, and strategies for desired progress and profits.

    What Rishab Gupta & Company Offers

    Rajput Consultancy Services Private Limited has been undertaking legal compliance Audit assignments across various industry sectors such. We have also been actively involved in legal compliance Audit. In which We Periodical Audit to verify, check and confirm compliance by corporate on statutory laws including bare acts, rules, guidelines, circulars, notifications and any amendments, if any,: The comprehensive coverage of legal compliance audits includes the following elements and works. However, the extent and complexity of these vary depending upon the type, size, stage, objectives, and preferences of the company or organization:

    • Company Laws
    • Securities Laws
    • Commercial laws
    • Environmental Laws
    • Banking Laws
    • Labour Laws
    • Fiscal Laws – Direct and Indirect Taxes
    • Property Laws
    • Insurance Laws
    • IPR Laws
    • Constitutional laws
    • Consumer Laws
    • Civil Laws
    • Information Technology Laws
    • Arbitration Laws

    We are also cover of compliance audit under mention invidual Act:

    Rajput Consultancy Services Private Limited, a prominent professional organization, commands commendable experience and expertise in performing immaculate legal compliance audits of all sorts, described below.

    • The Companies Act, 1956
    • The Competition Act, 2002
    • SEBI (Substantial Acquisition of Shares and Takeover) Regulations, 1997
    • Sick Industrial Companies (Special Provisions) Act, 1986
    • SEBI (ESOP) Guidelines, 1999
    • Securities Contact (Regulations) Act, 1956
    • Listing Agreement with Stock exchange/(s)
    • Indian Contract Act, 1872
    • Sale of Goods Act, 1930
    • Negotiable Instrument Act, 1881
    • Recoveries of Debts Due to Banks and Financial Institutions Act, 1993
    • Depositories Act 1996
    • Takeover Code
    • Manufacturing and Other Companies (Auditors Rport) Order, 1988
    • Consumer Protection Act, 1986
    • Essential Commodities Act, 1955
    • Fatal Accidents Act, 1855
    • Environment Protection Act, 1986
    • Water (Prevention and Control of Pollution ) Act, 1974
    • Information Technology Act, 2000
    • Payment of Bonus Act, 1965
    • Minimum Wages Act, 1948
    • Workman’s Compensation Act, 1923
    • Employees Provident Fund and Miscellaneous Provisions Act, 1952
    • Employees State Insurance Act, 1948
    • Public Liability Insurance Act, 1991
    • Equal Remuneration Act, 1976
    • Payment Gratuity Act, 1972
    • Factories Act, 1948
    • Industrial (Development and Regulation) Act, 1951
    • Industrial Employment (Standing Order) Act, 1946
    • Industrial Disputes Act, 1947
    • Contract Labours (Regulation and Abolition) Act, 1970
    • Sales Promotion Employees (Conditions of Service) Rules, 1976
    • Trade Union Act, 1926
    • Arbitration and Conciliation Act, 1996
    • Specific Relief Act, 1963
    • Registration Act, 1908
    • Indian Stamp act, 1899
    • Double Taxation Avoidance Agreements with various contries
    • Income Tax, 1961
    • Wealth Tax Act, 1957
    • Central Excise Act, 1944
    • Service Tax, 1994
    • Central Sales Tax Act, 1956
    • Sales Tax Act of various States
    • Customs Act, 1962
    • Prevention of Food Adulteration Act, 1954
    • Import & Exports
    • Local Body – Municipality Laws
    • Standards of Weights & Measures Act, 1976
    • Marine Insurance Act, 1963
    • Trade Marks Act, 1999
    • Copyrights Act, 1957
    • Designs Act, 2000
    • Foreign Exchange Management Act, 1999
    • Foreign Contribution (Regulation Act), 1976
    • Transfer of Property Act, 1882

    OTHER LEGAL ADVISORY

    Rajput Consultancy Services Private Limited also provides the legal Advisory services for a variety of businesses regardless of size and structure. We provide the legal Advisory in below mention issues include.

    • Vetting of commercial, employment or labour related, property related, finance documents, legal documents to verify applicability and compliance of various applicable laws in India
    • Legal audit for existing commercial arrangements/documentations
    • Advisory legal compliance of various commercial documents like Periodical Schemes, Notices, MOU etc.
    • Advisory on Cheque Dishonors cases
    • Matters relating to recovery of rightful dues and related legal actions through fastest legal recourse
    • Advisory on Arbitration matters
    • Advisory Movable / Immovable property matters
    • Stamp duty / registration matters
    • Winding-up cases
    • Labour law matters
    • Co-op. Housing Society matters
    • Trust related matters
    • Any other legal matters relating to Partnership Firm, personal matters including wills, succession certificate, LOA, Letter of Probate etc.

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