Identification of compliance gaps and risk exposures
Identification of compliance gaps and risk exposures
Compliance gaps arise when internal policies, procedures, or control frameworks do not adequately cover statutory and regulatory requirements. If not addressed in a timely manner, these gaps can expose organizations to regulatory penalties, financial impact, operational interruptions, and reputational harm.
A structured identification of compliance gaps and associated risk exposures enables management to proactively address deficiencies, focus on high-risk areas, and demonstrate robust governance standards to stakeholders and regulators, supported by Singh Gulati & Associates.
About This Service
Our compliance gap identification services comprise a structured review of existing compliance frameworks across various business functions. We benchmark organizational practices against statutory obligations under the Companies Act, SEBI regulations, RBI requirements, FEMA provisions, labour laws, tax statutes, and applicable industry-specific regulations.
We identify situations where compliance activities are absent, only partially implemented, or insufficiently documented. Each identified gap is evaluated for its potential financial, operational, and reputational impact, enabling the development of a prioritized risk matrix.
Additionally, we offer insights into emerging risks arising from regulatory amendments, evolving global standards, and changing enforcement patterns. This approach helps organizations remain future-ready and better equipped to respond to regulatory developments.
Through our independent assessments, boards and senior management gain clear visibility into compliance weaknesses, allowing for effective resource allocation and enhanced accountability.
Key Features / Scope of Work
Comprehensive gap analysis across statutory and regulatory requirements
Identification of missing, incomplete, or ineffective compliance practices
Evaluation of financial, operational, and reputational risk exposure
Prioritization of gaps based on risk likelihood and impact
Insights into emerging risks and regulatory developments
Independent reporting to boards, audit committees, and regulators
Actionable recommendations for remediation and resource deployment
Reinforcement of organizational resilience and governance culture
- Regulatory Compliance Risk Reviews
- Review of regulatory requirements across business functions
- Assessment of internal processes vis-à-vis statutory obligations
- Identification of compliance gaps and risk exposures
- Compliance Risk Heat Mapping & Control Design
- Advisory for remediation & control implementation
- Reporting framework for continuous compliance monitoring
- Assistance in regulatory inspections and audit readiness
- Support in Business Responsibility and Sustainability Reporting (BRSR)
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