Secretarial Audit Vs. Compliance
The difference between a secretarial audit report and a secretarial compliance report lies in their scope and purpose.
Here’s a breakdown of each:
Secretarial Audit Report:
Scope:
A secretarial audit report provides an independent evaluation of a company’s secretarial and compliance practices. It covers a comprehensive examination of statutory registers, filings, minutes of meetings, corporate governance practices, adherence to secretarial standards, and compliance with relevant laws and regulations.
Purpose:
The purpose of a secretarial audit report is to assess the company’s compliance with legal and regulatory requirements, identify any deviations or non-compliance, and provide recommendations for improvement. It focuses on evaluating the company’s overall adherence to secretarial and compliance norms.
For more information to visit: https://www.mca.gov.in/
Secretarial Compliance Report:
Scope:
A secretarial compliance report focuses on a specific aspect or area of compliance within the company. It may be prepared for a particular event, transaction, or regulatory requirement. The scope is narrower compared to a secretarial audit report and typically concentrates on a specific compliance area.
Purpose:
The purpose of a secretarial compliance report is to confirm the company’s compliance with specific legal or regulatory requirements related to a particular event or transaction. It verifies and confirms that the necessary compliance steps have been taken and the company has fulfilled its obligations within the specified scope.
In summary, Secretarial Audit and Secretarial Compliance: a secretarial audit report provides a comprehensive assessment of the company’s overall secretarial and compliance practices, while a secretarial compliance report focuses on confirming compliance within a specific area or for a specific event. The audit report offers a broader evaluation, while the compliance report provides confirmation of compliance within a narrower scope. Both reports serve as tools for assessing and enhancing the company’s compliance with applicable laws, regulations, and secretarial standards.
For further details access our website https://vibrantfinserv.com
