Compliance managment is the process by which a business ensures that it is meeting its obligation to operate within the laws that apply in their country and the standards that apply to their business activities.
Compliance managers are a central part of any company that wants to be sure that they are operating legally and according to best practices. Whilst all companies want to comply with laws and regulations, most now have a dedicated compliance management department that ensures this is the case by setting up processes to identify violations and to ensure they are corrected.
Compliance managment can thus be defined as the methods by which a company plans, controls, organizes and identifies all the activities and processes that will ensure they meet the requirements of all applicable laws and standards that apply to the industry that they operate within.