The English term Compliance (Compliance), comes from the financial sector, where illegalities are often committed unconsciously due to constant changes in legislation, its use has been extended to the business field, especially those with operations in different countries, since they must adhere to the legal regulations of
each country in which they operate and without a doubt the famous adage that says, “ignorance of the law does not exempt its compliance” applies to them.
What is Corporate Compliance? It tries to prevent involuntary illegal actions in the environment of the company. It reflects the corporate situation regarding the legality, efficiency and productivity of an entity from the legal point of view. That is to say: with a well-implemented Compliance system, you will have the certainty that your company complies with all legal procedures and imperatives and you will have an effective tool to prevent any risk situation.
Corporate Compliance has become one of the most influential requirements for optimal business management. Although the term began to be imposed in order to comply with international, national and local legislation, its importance and range of action goes further. Prevention of crimes and sanctions, organization, ethics, social image and with it greater profitability of companies, are the main consequences of a corporate Compliance strategy.
Fields of application of Corporate Compliance:
In the criminal sphere, the main benefit for the company is the exoneration of criminal responsibilities. If a crime is committed with a current prevention model and it is possible to prove its operation, exoneration of guilt can be achieved.
The prevention of occupational and environmental risks, accidents to workers or third parties that enter the workplace, as well as bad practices that harm the environment, are one of the greatest risks. Professionals in the field reduce it to a minimum with an adequate security and responsibility protocol.
Computer security is currently one of the main concerns of all companies. A complaint for non-compliance with data protection regulations, for example, entails important civil and administrative sanctions.
The theft of information places the company in a position where it is harmed, but also affects third parties.
In Mexico, the General Law of Administrative Responsibilities, states in its article No. 25, that an integrity system will be valued and very useful for a company, which, even being accused of a serious administrative offense, may not be sanctioned, by virtue of the fact that it has with the elements of the integrity system contemplated in the
law, based on the correct application of a Corporate Compliance.
Every day more companies and public entities in Mexico are implementing Corporate Compliance, denoting the organizational and patrimonial benefits that compliance with regulations and laws in an integral and ethical manner represent for organizations and for the nation.
Every week we will bring topics of interest, we hope that this article by Anaya Legal Playa has been to your liking, until next time.