What is a compliance service?
Compliance Service (or Compliance control service) is a department in an organization that is responsible for ensuring compliance with regulatory requirements, policies and procedures within the company. Its main task is to ensure that the company's activities comply with legislation, internal rules and industry standards.
What role does the compliance service play?
The Compliance Service plays an important role in preventing violations related to financial transactions, corruption, money laundering, compliance with competition rules and other areas of activity subject to regulation. She provides control over the processes in the company, conducts audits, develops the company's policy on compliance with the rules and provides training to employees.
What is the purpose of the compliance service?
The purpose of the compliance service is to minimize risks for the company, prevent legal and reputational problems, as well as to ensure the long-term sustainability and success of the business.