Compliance

Compliance, in a business context, refers to the act of adhering to a set of rules, regulations, laws, standards, or ethical practices. These can originate from external governmental bodies, industry-specific associations, international agreements, or internal company policies and codes of conduct. The objective of compliance is to ensure that an organization operates legally, ethically, and responsibly, mitigating risks such as fines, legal penalties, reputational damage, and loss of public trust.