The introduction of MCA V3 isn’t just a system change; it’s a call to rethink how we approach compliance in India. As a continuation of the article previously shared, this write-up moves beyond those challenges to explore how organisations can build a strong culture of compliance. Adapting to MCA V3 is not the final goal, it is only the starting point.
For professionals and businesses alike, the bigger question now is: How do we move from simply meeting deadlines to truly embedding a culture of compliance throughout the organisation?
The Case for a Deeper Shift
For many businesses, compliance has long been treated as a burden something to be dealt with once a year, often outsourced to an external consultant. But this approach is no longer sustainable.
MCA21 V3 aims to enhance transparency and accountability. This shift demands businesses to make compliance part of their core operating culture.
More Than Avoiding Penalties
Compliance is not merely about avoiding fines. It builds trust among banks, investors, customers, employees, and the public.
Learning from Industry Leaders
Tata Group, Infosys, Mahindra & Mahindra have already embraced a mature compliance culture with strong governance frameworks and advanced systems.
The Role of Technology & AI
AI tools can automate reminders, consolidate registers, and help risk assessments. But technology alone is not enough it must be supported by training and accountability.
Check Points for Building a Compliance Culture
1. Establish Board Level Ownership
Compliance must become part of board discussions.
2. Map and Document Obligations
Create an updated register of statutory requirements.
3. Invest in Training & Awareness
Compliance should not be limited to one department.
4. Adopt Appropriate Technology
Start with simple tools; scale as the organisation grows.
5. Treat Advisors as Partners
Company Secretaries, legal advisors, and auditors should be partners not last minute vendors.
At Accovet, we help businesses strengthen compliance foundations, reduce risk, and create sustainable value.