Routine Compliance Monitoring
It is important for an organization to ensure it is complying with legislation and regulations. Organizations are held accountable for their ‘compliance behaviour’ and non-compliance carries heavy risks. Management wants to know if their organization is ‘in compliance’.
Proper compliance with legislation and regulations is a precondition for operating a sustainable and socially responsible business. An organization’s management can only state with conviction that it has control of its compliance when it is working on it systematically. Compliance with legislation and regulations is one of the basic requirements of strong management pillars.Following is correct path for maintaining compliance.
- Commitment to compliance
- Identifying legislation and regulations
- Translating legal requirements into their impact on the organization
- Ensuring that organizational and technical measures for meeting the requirements are taken
- Self-evaluation of compliance with legislation and regulations
- Internal audit
- Management review of compliance