Compliance and Risk Management System | Compliance Management System

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Audit services

Building a strong and successful compliance and risk management system is the main objective of many companies. Without a compliance management system, it is difficult to track or measure compliance. So organisations need a regular audit of their compliance processes to assure the management about the compliance. Sometimes, they need specific audits on a need basis to conduct a comprehensive As-Is Compliance Assessment.

Ma Foi offers both kinds of services which include

Detailed Review of the Establishment & Business compliances, including that of the Vendors engaged
Comprehensive assessment of applicability of Acts and Compliance under them
Governance under Central, State, UT, Local Government regulations
Industry Specific Compliances in line with the industry specific practices
Procurement of Licenses, Registration, Consent Orders and Permissions
Identify Compliance gaps and Gap Reporting

Vendor Audit

Vendor audit and monitoring is one our specialisation areas, where we drive the vendors to render 100% compliance towards their Principal Employers. Vendors Include suppliers of critical raw material, business services, utilities and human resources among others, there are situations where we need to ensure that vendors are in compliance with various Labour laws, Tax laws and local laws. Our Vendor Audit services help you accomplish the following:

Identify Acts & Compliances that are due and pending by your Vendors in context of your relationship
Learn the specific Compliance Requirements from the Vendor in line with their services and supplies to you
Thorough qualitative & quantitative review and audit of all applicable compliances
Periodic monitoring and reporting of compliance status of vendors across locations

Contract managemen

Contracts are important for businesses in establishing their credibility, acting as the key tool for governance and assuring the stakeholders of fairness and transparency. For the business owners and leaders, it is critical that the contracts are developed appropriately and executed right.

This is a “lighthouse” for any business, guiding and guarding across all tides. Ma Foi helps you manage this key business process, comprising a range of activities through all the stages of the contract lifecycle. More often than not, this part is overlooked. For the fast-paced business environment, it is crucial for an organisation to engage competent experts to provide the right contract management solution and protect the business value.

This service includes

Vetting of commercial contracts
Drafting and negotiating contracts with the other parties involved
Maintaining a contract management system within the company
Managing a contract throughout the process
Identifying the risks, closing the gaps as and when they arise
Monitoring compliance with the contracts
Maintenance of records of the existing and past contracts
Improving contract management procedures on a periodic basis

We provide a well-designed compliance and risk management system depending on the size and complexity of the organisation.

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