Compliance is not the sole responsibility of compliance officer or the upper management or the compliance committee. Compliance is the responsibility of all individuals of the company.
<h3>What is Compliance?</h3>
Compliance is the act of ensuring that all the protocols mentioned in the policy are followed effectively, all the controls are in process and in working condition with complete effectiveness.
It is the duty of all the individuals to comply with the policies and ensure that the procedures are performed as per the standard operating guidelines. The compliance is not only the duty for the compliance individuals.
It is duty for all the individuals however those charged with governance are more likely to take actions against any procedure failure, but if there is any mishap and if there is a miss in the procedures being not correctly performed, it should be reported.
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