What is compliance?

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Originating from the English verb to comply , translated as the word “to fulfill”, compliance has a direct relationship with the meaning of this verb. For the business world, it means the practice of being in accordance with guidelines, of being in compliance with laws and regulations, whether internal or external.

Therefore, professionals responsible for compliance, who are often kuwait phone number list in external auditing, must be familiar with the legislation and be aware of what is happening in the company. This serves as a form of protection and prevention against illegal situations, such as corruption or inappropriate conduct.

Compliance assesses:

labor laws;
environmental rules;
regulatory and accounting standards;
to ISO 9000;
the Anti-Corruption Law ( Law 12,846/2013 );
and the organization's guidelines.
What is the difference between compliance and corporate governance?
As we can see, there are quite significant differences between these two practices. Although compliance is essential for successful corporate governance , the two processes cannot be confused.

Therefore, the main difference is that governance plays a much broader role in relation to the company's processes. It not only helps to determine the business guidelines, but also helps to define the administrative members and seeks to develop strategies to avoid conflicts of interest between the company's different management sectors. Because of this, it ends up affecting aspects of the routine in a more profound way.

Compliance plays a more supervisory role, monitoring and analyzing whether the company is complying with what was determined by the board. In this sense, although governance plays a strong role in the business, without well-established compliance, it is not possible for the former to be successful. This is because, with the latter, business practices become more transparent, regardless of the hierarchical level.