Compliance with regulations refers to compliance with the laws and regulations imposed on companies by the government and regulatory authorities for the proper functioning of the industries in which they operate, to reduce exposure to risk in vital sectors for the economy, to reduce corruption, fraud and non-competitive practices. Companies must identify all applicable laws and regulations that affect their business and recognize, assess and mitigate any risk of non-compliance, in order to minimize potential financial and reputational damage.
For more information, please see the Romanian version of this article, here
