“Prevention is better than cure.” Is it not? Preventive steps if not taken well in advance for curing one’s serious disease may not only result in exorbitant costs for medical treatment but also snatch away one’s dearest and most precious human life in the advance stage of the serious ailments.
Similarly, Legal Audit can be compared to preventive laws initiated with abundant and discreet prudence and caution to dispense with any litigations arising in future, and consequently may culminate in burning one’s fingers, like getting sued, fined or prosecuted or penalty imposed in avoidable litigations due to deficiencies / lacunae existing in the written documents / agreements / undertakings / statutes / bye laws executed by the individuals, partnerships, Companies, Corporate Undertakings, Banks and Governmental Undertakings and so on, in transgress of the laws and regulations of the Organization / Company / Governmental Enterprises, for example deviation from the laid down Memorandum and Articles of Association of the Private Limited Company and or the laws of the lands, based on various enactments and acts in force.
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