E17 Compliance

The term “compliance” means in German “the observance of
Laws”. Compliance describes the totality of all reasonable and sensible measures that justify the behavior of a company and its employees in accordance with the rules and principles with regard to all legal requirements and prohibitions.
In addition, the company's business conduct must also be consistent with all social guidelines and values, i.e. with the applicable morals and ethics.
In business jargon, compliance refers to the observance of laws and specific guidelines, but also the permanent adherence to voluntarily created codes in companies. In German, the difficult-to-translate term can therefore also mean rule monitoring or simply monitoring. Compliance is now considered an important element of proper corporate governance.

In context with:
Q:
Q03, Q08
A:
E01, E17
T:
T01, T02