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:
“I am not of the opinion generally entertained in this country [England], that man lives by Greek and Latin alone; that is, by knowing a great many words of two dead languages, which nobody living knows perfectly, and which are of no use in the common intercourse of life. Useful knowledge, in my opinion, consists of modern languages, history, and geography; some Latin may be thrown into the bargain, in compliance with custom, and for closet amusement.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)