THE IMPORTANCE OF COMPLIANCE PROGRAMS IN YOUR COMPANY.
Being able to assert that your company is operating under strategic compliance is a critical business strategy. It means that there is transparency and a high degree of administrative maturity. Compliance shows that managers and teams master the processes and procedures, implemented and executed with effective political, commercial, labor, contractual and behavioral compliance.
Failure to comply means taking unnecessarily large risks, which can lead to financial, capital, market and many other losses. Risk management and compliance are closely linked.
It is necessary to reflect and change management, adjust the way in which company information is treated and how people behave on a daily basis, with the aim of achieving a level of excellence in compliance, regardless of the activity segment and size of the company.
Why invest in this activity?
The company reduces costs and expenses, increases its operating income and avoids losses. In addition, with compliance with the laws, the transparency of the processes becomes a more consolidated reality, which provides greater confidence in the market in which it operates.
The teams involved prepare more and increase their performance, which is directly reflected in productivity.
Reputation and good image are a reflection of the level of compliance that the company aims to have. Therefore, using this concept to guide the best practices of the organization significantly reduces all risks to the company, creating a healthier and more reliable environment.
What is a Compliance program for?
Compliance programs are a very useful tool to help companies prevent and detect their participation in illegal conduct, which may generate criminal or administrative liability for both the company and its managers, as well as affect their reputation.
In simpler words, through a compliance program, your company will be able to prevent and identify practices contrary to antitrust regulations.
What are the advantages?
Implementing a compliance program in your company brings many benefits, among which we mention the following:
- Determine if there are aspects in your company’s processes that can be reviewed and improved.
- Complying with Anti-Fraud standards can be attractive for international companies, therefore it contributes to attracting business internationally.
- Greater confidence in potential clients, national and international.
- Correct identification of current and potential risks.
- Early detection of potential problems.
What implications does implementing a compliance program have for your company:
- Fully comply with Anti-Fraud standards.
- Have a real and effective commitment to clean businesses and respect for free competition.
- Conduct business under clear rules.
- Design and correctly implement the controls, through manuals and other internal documents, attending to the needs of your company.
- Each of the members of your company must know and apply the compliance program, from junior employees to senior executives and members of Boards of Directors.