Statutory and regulatory authorities entrust the responsibility of examining records maintained by an organization under the applicable laws and certifying compliance on the basis of such examination to practising professionals.
Such independent certifications by professionals provide a sense of assurance to in the authorities as well as other stakeholders that the affairs of the organization are being conducted in compliance with applicable laws and in the best interest of all stakeholders.
Statutory and regulatory authorities rely on such certifications by professionals to grant various approvals to the organization, thus, it calls for exercising the highest standard of diligence in examination and certifications by professionals.
Practising Company Secretaries have been recognized by law to provide certifications in various fields.