
A Blueprint for an Automated Compliance Program: Third Edition
Few compliance programs harness automation to its full potential. Learn how you can drive impact with every process by infusing technology where it matters most.
All businesses must comply with the laws and regulations of the jurisdictions in which they operate. As organizations increase in size and expand the scope of their activities, they are affected by a growing number of regulations on how they do business. The organizational practice of ensuring that business is conducted in accordance with the applicable rules and laws is known as regulatory compliance.
Regulatory compliance is the set of organizational processes, policies, and procedures that support compliance with the laws, rules, regulations, requirements, and guidelines established by lawmakers in the jurisdictions in which the organization operates.
A regulatory requirement is a rule or law, legislated by a government, that creates a legal obligation for an organization and adds to its compliance burden.
A regulatory requirement as written may apply to all organizations who do business in a particular state or country, to organizations in a particular industry, or to organizations who engage in a particular kind of activity as part of their normal business operations.
The United States government includes many regulatory agencies with a mandate to oversee the activities of private companies in their respective industries. These include organizations like:
Organizations who fail to meet regulatory compliance requirements can face substantial fines or penalties that depend on the exact nature of the offense. Government regulations also provide guidance that helps businesses succeed, and failure to comply often coincides with various kinds of business failures.
Other consequences of poor regulatory compliance can include:
We can point to a variety of regulations that impact most corporations operating in the United States, such as:
Companies ensure regulatory compliance through a number of activities, including:
Few compliance programs harness automation to its full potential. Learn how you can drive impact with every process by infusing technology where it matters most.