'With TLRegTech, firms find easier to stay on right side of law': CEO Rishi Agrawal

livemint.com:

Nirmala Sitharaman requested chartered accountants (CAs) to familiarize themselves with new-age concepts and areas of accounting and compliance including carbon accounting, CSR accounting and auditing as well as due diligence related to ESG to be at par with their counterparts in other nations amid changing global practices and compliance needs. The recent policy changes and diverse compliance needs have become a concern among corporate India. LiveMint spoke with TeamLease RegTech CEO Rishi Agrawal on certain issues related to compliance.

Here are excerpts: Rishi Agrawal: The actual applicability of compliance depends on the nature of the business. As part of the client onboarding process, TLRegTech conducts a Compliance Applicability Assessment of the organization. There are different specific regulatory requirements and standards for enterprises from other sectors and industries.

ALSO READ: Sitharaman urges CAs to adopt carbon, CSR, ESG practices Rishi Agrawal: Digital compliance management solutions come equipped with functionalities such as tracking and managing compliance obligations and automatic collection, generation, and storage of compliance records and documents in the prescribed format. The tracking functionality allows the enterprise to monitor compliances applicable to the enterprise, its contractors, and third-party vendors. The automation layers enable the automatic generation of compliance documents in the required formats, enabling firms to make a seamless shift from ‘reactive’ compliance to ‘dynamic’ compliance.