The definition of compliance is “the action of complying with a command,” or “the state of meeting rules or standards.” In the corporate world, it’s defined as the process of making sure your company and employees follow all laws, regulations, standards, and ethical practices that apply to your organization and industry.The keyword here is prevention. Our advocates prevent any problems before you face with judicial procedures,which cause prestige loss.
Corporate compliance should be an essential part of your business operations, regardless of industry.How does your business manage compliance and mitigate risk? Taking preventative measures can feel like a hassle upfront, but it can save your organization untold costs in the long run. Corporate compliance violations can result in fines, penalties, lawsuits, loss of reputation, and more. Keep your business from learning the lesson the hard way. Start developing a compliance program today.
Corporate compliance covers both internal policies and law procedures Enforcing compliance helps your company prevent and detect violations of rules, which protects your organization from fines and lawsuits.
The compliance process should be ongoing. Many organizations establish a program to consistently and accurately govern their compliance policies over time.
The main purpose is to protect your business. It’s as simple as that. But the return on investment could be significant, helping you avoid waste, fraud, abuse, discrimination, and other practices that disrupt operations and put your company at risk.
Your corporate compliance program needs to be integrated with all compliance efforts enterprise-wide, from the management of external regulations and internal policies to comprehensive employee training. By making sure all departments and staff are working together to maintain standards, you can mitigate the risk of major failures and violations.
In the unfortunate event that your organization faces a lawsuit, your corporate compliance program will help in court.
Seyhan Law Office has been providing services to foreign and local companies for more than 20 years. You can contact wıth our experienced team for details.