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 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
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 include :
- 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