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July 2013
Compliance refers to correct behaviour on the part of an organisation and its employees – in both legal and ethical terms.
Wherever they operate, companies must comply with a range of legal requirements. The business and ethical conduct of companies is increasingly coming under scrutiny from the media and the public. Non-compliance can result in a loss of reputation and associated financial consequences. In addition, breaches of the law may lead to civil and criminal action against the individuals responsible.
At the same time, compliance is becoming indispensable for successful business operations because more and more business partners are seeking assurances in the form of compliance statements that legislation and standards are being adhered to. As a result, compliance affects everyone: shareholders, management and employees...
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