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:
“This is the day when people reciprocally offer, and receive, the kindest and the warmest wishes, though, in general, without meaning them on one side, or believing them on the other. They are formed by the head, in compliance with custom, though disavowed by the heart, in consequence of nature.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)