PROCESS MANAGEMENT GLOSSARY

What is compliance?

Compliance refers to the process of adhering to laws, regulations, and standards that apply to an organization. It involves ensuring that the organization is operating within the legal and regulatory framework that applies to its industry and activities. Compliance is important for many companies, as it can help to protect them from legal and financial risks, and can also improve their reputation and credibility.

Compliance can help a company in several ways. First, it can help to ensure that the organization is operating within the law and following relevant regulations and standards. This can help to protect the company from legal and financial risks, and can also improve its reputation and credibility. Additionally, compliance can help to ensure that the organization is meeting its obligations to stakeholders, such as customers, employees, and shareholders. This can help to improve relationships with these groups and can lead to better outcomes for the organization. Finally, compliance can help to ensure that the organization is operating in an ethical and responsible manner, which can be important for maintaining the trust and confidence of stakeholders.


Source: Wikipedia