Compliance refers to the act of following rules, regulations, and laws set by authorities or organizations. It ensures that individuals and businesses operate within legal boundaries and adhere to established standards. For example, companies must comply with health and safety regulations to protect their employees and customers.
In many industries, such as finance and healthcare, compliance is crucial to maintain trust and integrity. Organizations often have dedicated teams to monitor and enforce compliance, ensuring that they meet the requirements of government agencies and industry standards. This helps prevent legal issues and promotes a culture of accountability.