In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that corporations or public agencies aspire to achieve in their efforts to ensure that personnel are aware of and take steps to comply with relevant laws and regulations.
Due to the increasing number of regulations and need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls. This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources.
Read more about Regulatory Compliance: International Compliance, Challenges, Definitions Related To Compliance
Famous quotes containing the word compliance:
“Discipline isn’t just punishing, forcing compliance or stamping out bad behavior. Rather, discipline has to do with teaching proper deportment, caring about others, controlling oneself and putting someone else’s wishes before one’s own when the occasion calls for it.”
—Lawrence Balter (20th century)