Compliance describes the ability to act according to an order, set of rules or request. In the context of financial services businesses compliance operates at two levels.
Level 1 - compliance with the external rules that are imposed upon an organization as a whole
Level 2 - compliance with internal systems of control that are imposed to achieve compliance with the externally imposed rules.
In general, compliance means conforming to a rule, such as a specification, policy, standard or law. Regulatory compliance describes the goal that organizations aspire to achieve in their efforts to ensure that they are aware of and take steps to comply with relevant laws, polices, and regulations. Due to the increasing number of regulations and need for operational transparency, organizations are increasingly adopting the use of consolidated and harmonized sets of compliance controls. This approach is used to ensure that all necessary governance requirements can be met without the unnecessary duplication of effort and activity from resources.
We provide our services to review the compliance mechanism followed by our clients and provide guidance on how to ensure the effective compliance.
We at Crowe Horwath – Afghanistan offer following services with regards to compliance;
Agreement/Contract term compliance