What is compliance?
As required by law, compliance applies to both employees and managers and is the process of implementing training, procedures, best practices and warning systems within the company to ensure that it complies with all applicable laws and regulations.
The overall process is commonly called a “compliance programme”, which must be tailored to the company’s requirements in a structured and effective manner.
Beyond the legal obligations, compliance can also help to disseminate ethics and values within the company. It is an attitude of mind, a management philosophy and a corporate culture.
Currently the principal sensitive areas of compliance are Competition, Personal Data, Anti-corruption, CSR and Human Rights.
Why is compliance a key issue for companies?
Recent events consistently show that non-compliance can have extremely serious consequences and permanently damage the value of a company, both financially and in terms of reputation: In 2009, Brussels ordered INTEL to pay a fine of more than one billion euros for abuse of a dominant position, DAIMLER were ordered to pay more than 136 million dollars by the US government for acts of corruption… and there are many more examples.
The specific aim of compliance programmes is to offer companies maximum protection against such risks, by ensuring that they are able to meet their legal obligations resulting from both national and international regulations.
This method of prevention and risk management also makes it possible to gain the trust of the authorities and of current and future partners.
Yet beyond such considerations, compliance also represents a major opportunity for the company and has real potential to create value: governance, organisation, anticipation, Charter of Corporate Behaviour, CSR, sustainable development, ethics, human rights…
Compliance is therefore not just a cost, but above all an investment in the company’s economic development.
Accordingly, our mission is to understand how your company operates and the specific nature of your activity sectors, in order to help you design and implement appropriate measures and procedures – in terms of both legal risk prevention and economic development programmes. This involves the creation of a structured compliance programme adapted to the full range of your company’s specific requirements, from management and operational departments right through to external service providers.