What Is Compliance
In general, compliance, without any further context, means “the action of complying with a command” or rule, or “the process of meeting rules or standards”.
What is Corporate Compliance?
In the corporate world compliance means “the process of making sure a company and employees follow all laws, regulations and standards that apply to the organization and industry”.
Corporate compliance covers:
- Internal procedures and policies
- National laws and regulations.
Enforcing and ensuring compliance will help your organization stay safe from breaking the law and protect it from getting lawsuits and fines.
A compliance program of a company should be carefully planned and implemented. There should be training programs to make sure employees are aware of all areas of compliance.