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Statutory management is a legal process where a government authority intervenes in the operations of a failing company or organization to stabilize its financial situation and protect stakeholders' interests. This typically involves appointing a statutory manager who takes control of the company's assets and operations, with the goal of restructuring or eventually returning it to solvency. The process is often employed to prevent bankruptcy or liquidation and may involve oversight of financial decisions, operational changes, and negotiations with creditors. Statutory management varies by jurisdiction and is often guided by specific laws and regulations.
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What do Statutory and non-statutory benefits provided by human resource management to employees include?
Statutory and non-statutory benefits provided by human resource management to employees include things such as insurance, workers compensation and payment into F.I.C.A and unemployment. Some benefits are mandated by law while others are optional.
What are the activities of statutory compliance management?
Compensation updatesIssuance of form 16Year-End Investment Proof collection and verificationAssistance during PF inspections and AuditsRegular Statutory UpdatesThese are some of the activities of Statutory Compliance Management from company like ADP India.
What are the features of compliance management?
Compliance management system from company like ADP India provides the features such as Statutory Compliance Audit Factory compliance Services CLRA Management Trust Management
Can statutory audit be done after tax audit?
Statutory Audits are those mandated by a statute. So by that definition even tax audit is a statutory audit.The management of the organization makes the appointment of an internal auditor. The statutory auditor is appointed by different authorities. First statutory auditors are appointed by the shareholders in the annual general meeting. The main object of the statutory audit is to form an opinion on the financial statement of the organization auditor has to state that whether the financial statements are showing the true and fair view of the affairs of the organization or not. The main object of the internal audit is to detect and prevent the errors and frauds.The scope of the statutory audit is fixed by the company act. it can not be changed by mutual consent between the auditor and the management of the audited business unit. The scope of the internal audit is fixed by the mutual consent of the auditor and the management of the unit under audit.
What is statutory controls?
Statutory control is a type of company management that has been imposed by an industrial authority. Malpractice or corruption can lead an industrial authority to appoint a special team to run a company until investigations are complete.
What are the legal basis of industrial security management?
1. Natural Authority 2. Constitutional Authority 3. Statutory Authority
Is SEBI a statutory body or non statutory body?
Statutory Body
What is the difference between statutory and non statutory audits?
what is the difference between statutory audit and non statutory audit.
What is the role of human resource in corporate restructuring?
1.Communication 2. Training 3. Management of stress and trauma 4.Interpretation of statutory instruments
What is statutory inducement?
What is statutory inducements
What are statutory expenses?
statutory expenses
What the difference between statutory and non statutory bodies?
A statutory body deals with written law; non-statutory deals with implied law.
