We will remind you that the concept of "compliance" comes from the English "to comply", which means to fulfill, meet certain requirements, standards.
Compliance isn't only about protecting the company from bribery or corruption, but also about compliance with legal norms and requirements of legislation, standards and ethical norms (codes of conduct). Compliance is one of the components of the system of risk management measures.
The trend towards transparency and openness is gaining momentum today. There is an awareness that compliance is not only an opportunity, but a necessity for every company that values its reputation.
This is confirmed by such Ukrainian companies as Nova Poshta, Kernel, ArcelorMittal Kryvyi Rih, Kyivstar. But the presence of compliance on paper doesn't guarantee the absence of corporate scandals.
It is important to implement compliance into your work, and starting with the highest management, applying the "Tone at the Top" concept, which you can view here: https://bit.ly/3GANm54
Those who invest in compliance have the following benefits:
🔹violations can be detected and prevented at an early stage;
🔹the company complies with the legislation and this is checked systematically;
🔹managers and employees are protected from fines, sanctions or prosecution;
🔹the company enjoys a positive reputation;
🔹the company becomes more attractive to new employees, business partners and investors.
Today we destroyed the myth that compliance is a far-fetched trend. It is a necessity that allows many companies to avoid certain risks and work for the victory of Ukraine.
