Ensuring you comply with local and international regulations.
Follow good compliance management practises
Avoid upset caused by an oversight of compliance.
The failure of an entity to comply in a correct and timely fashion can have huge implications; not only for other group subsidiaries in the same jurisdiction, but it can also affect subsidiaries across the globe.
By grouping and displaying companies by compliance reporting dates, the CFO and Company Secretary can clearly see the compliance status of each entity. EntitySquared’s clear dashboard shows the user exactly where his entity map stands in relation to its corporate compliance obligations to lift this burden from the shoulders of the controller and lets them see whether subsidiaries are ensuring compliance is met.
Ensure global compliance reporting is not forgotten
Simple steps for managing reporting quickly and effectively.
EntitySquared enables the controller to have a view of each subsidiary’s key compliance dates and to be able to monitor whether compliance documents have been filed with the relevant authorities. Its clear dashboard quickly shows where entities are with their submission cycles and how many entities are behind with submission.
The “traffic light” structure gives the user a clear indication of the reporting status of the whole company. The simple green, amber or red status lights allows users to focus in on those companies that have yet to report and ensure that issues are dealt with.
It allows controllers to delve deep in to individual companies to understand what elements are yet to be completed and allows thorough follow up to ensure that all entities are submitting on time and fully compliant.
Build an audit trail to demonstrate compliance
Keep a track record of each entity’s activity.
Manually collecting records creates a lot of extra work when it comes to time for auditing. An entity management system builds a effective digital audit trial that provides organisations with a historical perspective of each entities corporate transactions and processes.
As EntitySquared tracks and records all the actions taken by an entity and its board, along with dates and timestamps to build a transparent audit trail. This makes it is easy to collate a report when it is time for an audit review of your subsidiaries, giving you a clear insight to its corporate activity.