Compliance is like a corporate guardian of ethics, legality, and standardization. Imagine a corporate world without the vital function of Compliance. Here are some reflections from Terus Consultoria on the subject:
1. UNCONTROLLED RISKS:
Without compliance, corporations would be adrift in a sea of risks to shareholders, creditors, employees, and even the existence or continuity of operations. The absence of well-defined policies and procedures, along with their respective reviews and monitoring, would increase opportunities for fraud, corruption, and violations of legislation.
The corporation's reputation, its brands, products, and services would be in a vulnerable condition, diminishing the trust of customers, suppliers, financial creditors, and shareholders. It would shake the society's valuation.
2. LEGAL CONSEQUENCES:
Without compliance, the risks of the company being subject to significant fines, lawsuits, and even incrimination of administrators would increase.
3. ORGANIZATIONAL CULTURE:
Compliance contributes to shaping organizational culture by promoting and overseeing the adoption of ethical values, transparency, and responsibilities.
4. GLOBAL COMPETITIVENESS:
Companies operating internationally are required by local governments to comply with the laws and regulations of those countries. Compliance is essential for mapping and navigating these complex scenarios.
Without compliance, companies would be prevented from doing much business and would be excluded from opportunities in strategic markets.
5. RESPONSIBLE INNOVATION:
Compliance is not only about rules but also about responsible innovation by encouraging teams to seek creative solutions while respecting legal and ethical boundaries.
Without compliance, innovation could become a risk if managed by individuals with malicious intent.
Ultimately, compliance is a corporate pillar that illuminates the paths executives use to make decisions in accordance with rules and laws, but also in ethical compliance as required by any shareholders in conducting profitable and enduring business.
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Contact Terus right away: contato@terusconsultoria.com.br / (+55 11) 2503-6747.
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