What is compliance?
Compliance means that business is done in accordance with the law. But in practice compliance is primarily a model designed to ensure legal comfort for the organisation in all areas of its operation, including in terms of ethics and public relations. These are actions and procedures that can shield a business against penalties, financial losses and other threats arising from a failure to comply with the law.
Why is compliance important?
In recent years organisations have been facing an increasingly complicated business environment. More and more duties and regulations are being introduced along with severe penalties for non-compliance, such as in the area of taxes (mandatory disclosure rules) or financial transactions (anti-money laundering / counter terrorist financing)
But there are also new regulations allowing businesses to avoid or mitigate these risks, for example by proving that they exercised due care in putting an appropriate organisational framework in place. This makes it even more important to have a robust compliance function in your firm.
Our compliance services are designed to ensure that our clients’ business is conducted in accordance with the law and the related interpretation guidance. While we offer varied solutions, they all share the common goal of minimizing business-related risks.