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Corporate Laws and Compliance

CMA Final - Paper 13 : Corporate Laws and Compliance

ICMAI has introduced this paper, Corporate Laws & Compliance, at the CMA Final level where you will gain knowledge on assessment if the organisation has complied with the applicable regulatory framework. You will also learn how to evaluate the essence of Corporate Governance for effective implementation and the role of a Corporate in socio-economic development.
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More about Corporate Laws and Compliance

What is Corporate Laws & Compliance? 
  • Corporate Laws are the body of Laws, Rules & Regulations that governs the formation, operations and compliance of Business Entity which helps in conducting operations in a legal manner 
  • The compliance is now included with the concept of governance to improve the sustainability of organisation in the long term. 
Why has ICMAI introduced this paper, Corporate Laws & Compliance, at the CMA Final level? 
  • This paper helps in gaining knowledge on assessment if the organisation has complied with the applicable regulatory framework 
  • Evaluating the essence of Corporate Governance for effective implementation and the role of a Corporate in socio-economic development is required for an Audit 
What are the topics covered in Corporate Laws & Compliance at the CMA Final Level? 
  • This paper covers the provisions of Companies Act 2013 right from how to incorporate a company, who manages a company, who has the powers to manage a company to winding up of a company 
  • In case of Allied Laws, the SEBI Laws and Competition Act are to be studied at advanced level whereas the Foreign Exchange Management Act, 1999, Laws related to Banking Sector and Insurance Sector can be limited to basic understanding only 
What is the best approach to study the Corporate Laws & Compliance paper? 
  • Do not memorise without understanding: Law is a very theoretical subject and students think they need to memorise all the information. This is not correct because memorisation without understanding will lead to disaster. A better way is to understand the various applications of the law in practical situations 
  • Do not cram: Spreading your study over a period of many days is better than going through the entire subject in just a few days before the exam 
  • Plan your study: The best generals do not go to war without a plan of attack. In the same way, before even you begin your study, understand what is expected. Understand the objectives and syllabus to come up with a study timetable that will organise your study 
  • Keep up with Updates: Due to the dynamic nature of the law, the syllabus keeps getting updated to reflect the latest changes in legislation. Keep visiting the ICMAI website for notifications and amendments applicable for your exam 
See how CS Dattatri HM and CA Rajiv Rabindran teach this paper Corporate Laws and ComplianceSign up to get a free trial!
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