The Limitations of Compliance: Understanding the Constraints of Adherence
The Complexity of Compliance: An Overview In today’s highly regulated business environment, compliance is a critical aspect of organizational operations. Compliance refers to the adherence to laws, regulations, standards, and policies that govern a specific industry or sector. While compliance is essential for minimizing risks and avoiding penalties, it can also impose significant limitations on businesses. According to a survey by Thomson Reuters, 75% of companies reported that compliance requirements had increased significantly over the past two years, resulting in higher costs and resource allocation. In this blog post, we will explore the limitations of compliance and their impact on businesses. ...