In business, there are specific rules and regulations that every organisation and its staff has to comply with in order to operate safely and legally. Not complying with these standards not only poses risks to organisations achieving their overall business objectives but operating as a business in general. As you can imagine, these risks could have a massive impact, so you want to identify the obligations your organisation must be in compliance with to avoid the potential risks. This is why compliance management is so important. At its core, compliance management is the process of managing the planning, organisation and execution needed to ensure compliance with laws and regulations, and in turn, mitigate the risks that would be encountered due to non-compliance.
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