Regulatory Compliance and Accounting catch up for US subsidiary Company
At the time SBS Global took over the Accounting of the client, there was a huge backlog of bookkeeping and regulatory compliance.
Background and Challenge
Our client is an advisory consulting and systems integration firm that specializes in enterprise information management to help clients leverage information assets for better business results. The company does this through its industry practices, solution accelerators and specialized technology competencies that help clients achieve operational efficiency, business scalability and regulatory compliance.
Our client works with businesses that are focused on a few key industries − communications, financial services, healthcare, insurance, and life sciences. The industry-focused practices work with their competency groups to address today’s client concerns in Process Optimization, Information Management, and Information Insight
Problem
At the time SBS took over the Accounting of the client, there was
- Huge backlog of bookkeeping and regulatory compliance.
- Gap in Company Law Compliance
When SBS analyzed the client’s compliance with the company law, it found
out that there were many gaps.
- Regulatory Authorities
SBS found out that the client does not have all the registrations and approvals
required as the regulations.
Result
- Clearance of Backlog
SBS worked diligently with the client to clear the back log. SBS also coordinated with different statutory departments to ensure that the client is compliant with all the regulations. SBS got appreciation from the US parent company for the clearance of the backlog
- Gap in Company Law Compliance
SBS worked on all these gaps and ensured that the client is compliant with the Company Law.
- Regulatory Authorities
SBS coordinated with all the regulatory departments to get the necessary registrations and approvals.
Our client is associated with SBS Global from the year 2008. SBS Global is in direct relationship with both the Indian entity and the parent company in the US.
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