Different business entities have legal compliances to be made considering the structure adopted by them to carry out their business. The requirements of compliance range from one-time, periodical to continuous. There are host of approvals, registrations and filings that are required when new businesses are set up. Indian exchange control regulations have significantly liberalized. However, they still have certain restrictions and compliance requirements on transactions on capital account. The Indian financial institutions have a very conservative approach in lending to the business, either for working capital or for the long term. The businesses, therefore, require competent consultants to assist them in the area of corporate advisory in the above fields.
A S O S’s competent team is well suited for providing following services to existing entities or for the entities to be incorporated.
Regulatory environment in India requires various organisations to obtain several licenses before the operations commence. We offer our services under which we assist our clients in obtaining various license, be it general trade license or industry specific license. We have dedicated team whose expertise lies for liaisoning with government authorities which assures speedy and timely procurement of licenses. At A S O S our core focus is to reduce the regulatory burden on our clients so that they can concentrate on business activities.
We at A S O S & Company have a team of professional dedicated to Incorporation of various entities. Be it Company, LLP ,Partnership Firm or Joint venture, our team is well equipped with all the expertise to ensure that our clients have not to go through hard phase of Incorporation. We completely deal with all the regulatory and compliance aspect of entity incorporation and assure our clients that their major focus continue to remain on business operations.
In India, companies are regulated by registrar of companies that require various compliances on part of companies during pre incorporation and post incorporation phase. These compliance include annual return filing, maintenance of Statutory registers, other compliances, maintenance of minutes book etc. At A S O S we take care of all the compliances that are required to meet by company under companies law. We undertake compliance assignment on annual as well as case to case basis.
Registration and Compliance of Industry Specific Statutes (Especially Telecom, Petroleum, FMCG, Foods, Security and Manufacturing industry)
To setup and run an industry successfully it is necessary that it should comply with all applicable rules and regulations. In addition to general statues some special statutes are also applicable on some industry, non adherence thereof may question the existence of the organization. Sometime sector specific incentive schemes are also being offered by the government organization. Our sector specific expert team manages to updates their industry specific client about various regulatory amendments, reporting structure to regulatory authorities and tariff calculations.
Transition of Cash Based Single Accounting System to Accrual Based Double Entry System for Urban Local Bodies
One of the key reforms of government of India with an intention to make urban local bodies independent, self sustainable and their accounting system transparent, error free and more reliable. A S O S & Company is one of the key associates in the government initiative. Our expert team have authored a book covering key aspects of accrual based double entry accounting system and its optimum use in urban local bodies.
A change in accounting standards is virtually inevitable in India and companies should be embarking on their initiatives to achieve timely convergence with IFRS. Based on the experience of other countries, conversion is a significant endeavor and an early start can make a difference. We help companies that are contemplating IFRS or are in the process of adopting IFRS with services such as assessing and revising financial policies, evaluating organization-wide Data Collection processes, Consolidation processes, Financial Reporting processes, or General accounts. We have professionals specialised in the field of Indian Accounting standard and IFRS that smoothly navigate the convergence process to comply with international and local reporting compliances.