Compliance Monitoring and Reporting

Compliance Monitoring and Reporting involves regularly checking and documenting whether a business is following laws and regulations relevant to its activities. This process helps identify any potential risks or violations that could lead to legal issues or fines. Companies establish internal controls and procedures to ensure adherence, and they report their findings to management or regulatory bodies. Effective monitoring ensures accountability and promotes a culture of compliance within the organization, ultimately protecting the business from potential consequences of non-compliance.