Regulatory Compliance: Best Practices for a Smooth Business Operation
Introduction In today’s fast-paced business environment, staying on top of regulatory compliance is crucial for any organization. Regulatory compliance refers to the adherence to laws, regulations, and standards that govern a particular industry or business operation. Failure to comply with these regulations can result in severe penalties, reputational damage, and even business closure. According to a report by Thomson Reuters, the average cost of non-compliance is $14.82 million, compared to $5.47 million for compliance. ...