Compliance is a feature of the times. And he who does not move with the times, is known to be moved out of the way with time.
Compliance represent systematic organizational internal structures which ensure that you follow the relevant legal provisions for your company as closely as possible. Compliance does not only exist in the form of the anti-corruption provisions, but is as diverse as your business. Compliance may, for example, relate to the areas of taxes (“Tax”), computers / IT, environment, labour law, data protection, capital market, product liability, antitrust, and others. Keywords in compliance are transparency, documentation, audits, uniform and clear guidelines. Compliance should also benefit you. It helps your company avoid damages, namely economic losses, damages, void contracts, penalties, association fines, litigation costs, damages to image, “cleanup operations”, and others. The capital market is paying increased attention to compliance as well. Due diligence audits are made easier and cheaper with good compliance – your company’s value is increased!