WHAT IS COMPLIANCE IN BUSINESS?
 

In business terms, Compliance is about ensuring companies of all sizes and their employees comply with existing National and International laws.

The Companies Act 2006 is the main legislation that forms the primary source of UK company law.

The main objective of Compliance is to avoid or swiftly identify criminal behaviour and react appropriately to it.
 

Compliance regulations have been put in place to protect you, the customer, our company, our employees, and our property.

Essentially, a Compliant company demonstrates that it is a reputable business that respects the interests of their customers & employees by operating responsibly. This includes the following:

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• Complying with applicable industry regulations set out by professional regulators – for example, the Financial Conduct Authority, the Office of Rail and Road, the Law Society or the Environment Agency

• Complying with finance regulations – such as tax, payroll, HMRC, accounting, record keeping, Companies House and anti-money laundering regulations

• Employment law and workers’ rights

• Health and safety for workers and visitors to our premises

• General Data Protection Regulation (GDPR) 

• Contracts and agreements with third parties

• Sector-specific permits, licences, permissions