Compliance (in legal context)

In a legal context, compliance refers to following laws, regulations, and standards set by authorities or governing bodies. Organizations and individuals are required to act within the legal framework relevant to their activities, ensuring they meet statutory obligations. Failure to comply can result in penalties, fines, or legal action. Compliance promotes ethical behavior, risk management, and accountability, helping maintain trust and integrity in business and societal operations. It involves implementing policies, procedures, and controls to ensure adherence to applicable laws and regulations consistently.