The term ‘Corporate Compliance’ refers to the way business firms, companies, and organizations ensure that they are following all the rules, regulations, and policies that apply to their business in all aspects. It usually involves designing, implementing, and monitoring all practices, procedures, and training.
Corporate Compliance Programs are the formal policies that prevent violations of Corporate Law Compliance, provide training on relevant regulations, implement compliance procedures, and monitor violations. Without these elements, every company is prone to risk and legal liability. Although the types of compliance policies and programs appropriate for a specific company vary as per its size and complexity of operations, all companies, whether large or small, benefit from having an effective corporate compliance program in place, provided it is well-designed and actively monitored from time-to-time. Therefore, if your company still doesn’t have a formal corporate compliance program, it is high time you get in touch with a Corporate Compliance Attorney and start working on it.