Understanding Compliance Vocabulary

Glossary of Key TermsAccountability: The state of being responsible and answerable for one's actions and decisions.Adhere (to): To stick to, follow, or comply with a rule, agreement, or plan.Audit: A systematic review or assessment of an organization's processes or records to verify compliance, effectiveness, or accuracy.Breach: To break or violate a law, rule, obligation, or duty.Comply (with): To act in accordance with rules, regulations, or laws; to conform or obey.Control: A means of regulating, managing, or restraining processes, activities, or behaviors to achieve a desired outcome.Monitor: To observe, check, and track something regularly, especially for the purpose of supervising performance or compliance.Oversight: The supervision, control, and management of activities or operations, often with the aim of ensuring compliance or effectiveness.Policy: A set of guidelines, principles, or rules adopted by an organization as a basis for action.Procedure: A specific method or step-by-step process for carrying out a task or activity, often implementing a policy.Regulation: A rule or directive issued by an authority or government that dictates a specific standard of behavior or operation.Risk: The chance or possibility of something bad, harmful, or undesirable happening, such as a breach of compliance.Training: Instruction, teaching, or education provided to increase skills, knowledge, or understanding, especially of compliance-related rules or procedures.Transparent: Easy to perceive, understand, and see through; open, clear, and free from deceit or obscurity.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?