New Delhi, July 15 -- Despite significant investments in statutory, internal and operational audits, Indian companies continue to face regulatory action because existing audit mechanisms fail to independently assess compliance with the full spectrum of legal obligations, according to a report released by TeamLease RegTech.

The report argues that the absence of independent compliance audits has emerged as one of the biggest governance gaps for Indian enterprises, exposing them to regulatory, operational and reputational risks.

According to the report, businesses in India operate under more than 1,530 Acts and Rules, with over 69,000 statutory compliance obligations spanning licences, filings, inspections, disclosures and operational requ...