Compliance refers to the act of adhering to rules, regulations, and standards set by governing bodies or organizations. It involves ensuring that individuals, businesses, or entities are operating within the legal and ethical boundaries of their respective industries. Compliance is crucial in maintaining transparency, accountability, and integrity in various sectors such as finance, healthcare, and environmental protection. It often involves implementing policies, procedures, and controls to mitigate risks, prevent fraud, and promote fair practices. Non-compliance can result in penalties, fines, reputational damage, and legal consequences.

Showing the single result