Policy on Outsourcing of Activities

Last Reviewed On: September 09, 2020 (Version 3)

In line with SEBI’s circular CIR/MIRSD/24/2011 dated December 15, 2011, Acuité does not outsource activities related to rating execution and regulatory compliance functions.

On-Roll Employees:

Activities related to rating execution performed by full-time on-roll employees:

  1. Interactions / discussions with the management
  2. Preparation of the Rating / Review note
  3. Presentation of the Rating / Review note to the Rating Committee

Off-Roll Associates:

Activities performed by full-time associates (on payroll of a third party) who use the physical infrastructure, network systems and IT assets that are owned and in full control of Acuite:

  1. Following up for information from rated entities for surveillance / review
  2. Data entry activity
  3. Maintaining records and incidental secretarial work related to committee meetings

Acuite hires associates who are on a contract with a third-party service provider purely from a payroll processing perspective.

    a.) The training, monitoring / supervision and reporting of these associates is to a supervisor / employee on the rolls of Acuite.
    b.) These associates work using the infrastructure, network (including Virtual Private Network) and IT assets owned by and software licensed to and in full control of Acuite. The same restrictions that apply to a full-time on-roll employee using the IT assets of Acuite apply to these associates.
    c.) These associates are bound by all the policies and guidelines of Acuite. Apart from processing payroll the third-party service provider has no role in the day to day management of these associates.

None of the activities pertaining to rating is outsourced to any third-party organisation where Acuite has ceded control of its IT assets & infrastructure, network systems & processes.

Non-Core* activities outsourced by Acuite:

Activities that Acuite has outsourced include managing certain associates for business development, hiring candidates using the services of recruitment consultants, payroll processing & payroll compliance related activities.

*The classification of core and non-core activities is as approved by Ratings Sub-Committee.