History of Compliance

Glossary of Key TermsCompliance: The act or process of adhering to rules, laws, regulations, standards, or ethical guidelines.Due Diligence: The process of taking reasonable steps to ensure the accuracy, completeness, and legitimacy of information and to identify potential risks.Globalization: The process of international integration arising from the interchange of world views, products, ideas, and other aspects of culture.Jurisdiction: The official power to make legal decisions and judgments; the geographical area within which such authority may be exercised.Multinational Corporation: A corporation that has its facilities and other assets in at least one country other than its home country.Regulations: Rules or directives made and maintained by an authority that are intended to control behavior.Sarbanes-Oxley Act (SOX): A U.S. federal law passed in 2002 in response to major accounting scandals that set new standards for U.S. public company boards, management, and public accounting firms.Non-Compliance: Failure or refusal to follow a rule, law, regulation, or code of conduct.Ethical Conduct: Behavior that aligns with principles of right and wrong; often goes beyond mere compliance.Corporate Scandal: A significant event involving unethical, illegal, or improper behavior by an organization, its executives, or its employees that negatively affects stakeholders and public trust.Need Classes? Legal English innovation has several classes weekly, focusing on commercial law and other areas to help you communicate better with your clients.+57 320-315-4781 Follow us on Instagram!Friends on Facebook? Like us on Linked In?