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Compliance Assurance Corporation

Stage

Acquired | Acquired

Total Raised

$1.25M

About Compliance Assurance Corporation

Compliance Assurance Corporation aims to provide network security, risk management and regulatory compliance solutions for businesses that need to comply with consumer privacy and security regulations including the Gramm Leach Bliley Act (GLBA) and HIPAA.

Headquarters Location

622 2nd Avenue

Pittsburgh, Pennsylvania, 15219,

United States

412-690-6201

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Expert Collections containing Compliance Assurance Corporation

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Compliance Assurance Corporation is included in 2 Expert Collections, including Regtech.

R

Regtech

1,341 items

Technology that addresses regulatory challenges and facilitates the delivery of compliance requirements in FIs. Regulatory technology helps FIs and regulators address challenges ranging from traditional compliance and risk management to data reporting and transmission.

C

Cybersecurity

4,937 items

Latest Compliance Assurance Corporation News

Iras introduces two new frameworks to help companies improve tax compliance

Mar 18, 2022

The new frameworks complement the existing GST Assisted Compliance Assurance Programme. PHOTO: ST FILE https://str.sg/wn4s SINGAPORE - Two new tax frameworks have been rolled out to help companies strengthen tax compliance, said the Inland Revenue Authority of Singapore (Iras) on Friday (March 18). The new frameworks are the Tax Governance Framework (TGF) and the Tax Risk Management and Control Framework for Corporate Income Tax (CTRM). TGF focuses on strengthening the tax governance standards in a company and elevating them to the board level. It features a set of broad principles and practices around three main building blocks of good tax governance: compliance with tax laws, governance structure for managing tax risks and relationship with the tax authorities. The framework is applicable to both corporate income tax (CIT) and goods and services tax (GST), and can be adopted by any company willing to commit to good tax governance, Iras said. Companies that attain the TGF status can enjoy a one-time extended grace period of two years for voluntary disclosure of CIT, withholding tax errors made within two years from the date of award of TGF status, or both. The new frameworks complement the existing Goods and Services Tax Assisted Compliance Assurance Programme (GST Acap). For a GST-registered business accorded Acap status, a one-time extended grace period of three years is given for voluntary disclosure of GST errors made within two years from the date of award of TGF status. A GST-registered business without Acap status gets a one-time extended grace period of two years for voluntary disclosure of GST errors made within two years from the award of the TGF status. CTRM, which is targeted at large companies with complex structures and business models, guides these companies in establishing robust internal controls and processes to identify, mitigate and monitor key CIT risks. The framework comprises a self-review checklist featuring processes and measures that would demonstrate that sound controls - such as tax governance structure, entity-level controls and tax reporting controls - are in place to manage tax risks. Eligible companies that attain the CTRM status will enjoy a one-time waiver of penalties for voluntary disclosure of prior years' CIT, withholding tax errors, or both. They will also get a step-down on CIT compliance audit for three consecutive years of assessment from the date Iras awards the CTRM status. "While the TGF, CTRM and GST Acap are voluntary compliance initiatives that operate independently, we strongly encourage companies to adopt all three frameworks to ensure proper internal controls and systems are in place to manage their tax risk," said Mr Ng Wai Choong, commissioner of inland revenue and Iras chief executive officer. More details on the eligibility criteria and the application process for the two frameworks can be found on the Iras website. Those with inquiries on TGF or CTRM can call the Iras helpline on 1800-356-8622 or send an e-mail to ctmail@iras.gov.sg More On This Topic

Compliance Assurance Corporation Frequently Asked Questions (FAQ)

  • Where is Compliance Assurance Corporation's headquarters?

    Compliance Assurance Corporation's headquarters is located at 622 2nd Avenue, Pittsburgh.

  • What is Compliance Assurance Corporation's latest funding round?

    Compliance Assurance Corporation's latest funding round is Acquired.

  • How much did Compliance Assurance Corporation raise?

    Compliance Assurance Corporation raised a total of $1.25M.

  • Who are the investors of Compliance Assurance Corporation?

    Investors of Compliance Assurance Corporation include StoneRiver Risk And Compliance, Delaware Crossing Investment Group, Mid-Atlantic Angel Group, Robin Hood Ventures, Saunders Merdock and Assoc and 7 more.

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