Law and Humanities
Quarterly Reviews
ISSN 2827-9735
Published: 10 May 2024
Managing Legal and Corporate Compliance to Induce and Enhance Business
Gunawan Widjaja
Universitas 17 Agustus 1945 Jakarta, Indonesia
Download Full-Text Pdf
10.31014/aior.1996.03.02.115
Pages: 8-17
Keywords: Management, Compliance, Rules, Standards, Governance, Corporation
Abstract
Compliance management is an important part of the business world, and organizations must ensure their compliance with prevailing applicable regulations and standards. In compliance management, organizations need to understand applicable regulations, codes of conduct, and risk assessments, to be able to develop clear and constantly updated policies and procedures. Training and education for employees are also important to ensure understanding and compliance with the rules of law. Effective monitoring, audits, and reporting mechanisms must be implemented to identify breaches of compliance and address problems promptly and accurately. Consistent and fair sanctions and enforcement of rules must also be implemented to encourage compliance and prevent violations. By implementing effective compliance management, organizations can maintain a good reputation, reduce the risk of law breaches, and ensure operational sustainability. It is also important to always consult with a legal expert in respect of compliance to ensure proper compliance in accordance with applicable regulations.
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