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How to establish a compliance framework
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Compliance Framework Presented by CA Manoj Agarwal January 19, 2013, Institute of Internal Auditors, India-Bombay Chapter
Disclaimer • All the contents of the presentation constitute the opinion of
the speaker, and the speaker alone; they do not represent the views and opinions of the speaker’s employers, supervisors, nor do they represent the view of organizations, businesses or institutions the speaker is, or has been a part of.
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Agenda • Framework
• Framework for Compliance
• Q&A
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Definitions
frame·work
/`frām, wərk`/ Noun
1. An essential supporting structure of a building, vehicle, or object.
2. A basic structure underlying a system, concept, or text: "the theoretical framework of political sociology".
Synonyms • frame - skeleton - structure - carcass - cadre – shell
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What do you see here?
Components of a Framework Components Policy Process People
Input Tone at the top Laws Organization Policies Industry best practices
Org Charts.
Process What are our values and principles What do we want to do Why we want to do
How we will do what we want to do When we will do Where we will do Who will do it
Do we know what we are supposed to do?
Output Policy Compliance Checklist Compliance Calendar Compliance Manual Records and decisions
Role-Responsibility-Authority-Accountability Training
PDCA Update Policy Update processes Provide Training
Policy • What are our values
• What is our principles
Equal Opportunity
Follows the laws of the
land
Treat workers fairly
Share the fruit of enterprise Anti Discrimination
Minimum wages Standard Salary Structure Payment of Bonus Act Shop and establishment Acts PF ESIC/ WCA/Mediclaim
Process - Compliance Manual
Sr No. Act/ Rules/ Regulations/ Scheme
Category Reference (Sections/
Rules/ Regulation
s)
Legal Provisions
Statutory Filings
Frequency/ Time Limit
Effect of contravent
ion/ default
Sl. No Acts/ Regulations covered Category Overall responsibility
Index
Act wise compliances
Process - Compliance Checklist
Sr. no.
Activities Responsibility
Sections/ Rules/ Regulations)
Act/ Rules/ Regulations/ Scheme
Compliance Due Date
Authority Date of compliance
Compliance for the month of______________
Sr No. Act/Rules/Regulations/Scheme
Category Reference (Sections/Rules/Regulations)
Legal Provisions
Statutory Filings
Frequency/Time Limit
Effect of contravention/default
Process - Compliance Checklist Compliance for the month of______
Are we Compliant
Gap Analysis
Corrective Measure
Preventive Measures
PDCA Cycle
People • Role-Responsibility-Authority-Accountability Matrix
• Segregation of Duty
• Training
Principles of Internal Controls
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Process
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People
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Tools
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Issues
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• Business vs compliance
• Common Definition – lack of
Recap
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Q&A
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Contact details
Manoj Agarwal
+91 9820392252
http://in.linkedin.com/in/manojbagarwal/
http://www.slideshare.net/manojbagarwal/presentations
@amanojca
Resources
https://www.unifiedcompliance.com/
