In simple terms, (corporate) compliance means observing laws, guidelines and voluntary “codes of conduct”.
Modern (corporate) compliance is much more than “just” complying with laws. It is a statement and commitment at top management level.
A comprehensive compliance culture is a key prerequisite for sustainable success and enables a considerable competitive advantage.
Increasing transparency in corporate processes enables effective process improvement, which has a direct impact on the effectiveness and efficiency of control mechanisms.
As a component of risk management, the overriding purpose of compliance is to protect the company, management and employees from legal and regulatory violations and their consequences.
In this context, compliance is not limited to mere adherence to specifications, but also includes organizational and technical measures.