Compliance: a priority for the companies nowadays
The commitment with ethics and respect to laws are one of the main priorities of successful companies
Latin America presents a constant changing regulatory environment. This way, the role of the Compliance Area has been more and more active within the company.
The commitment with ethics and respect to laws are one of the main priorities of successful companies. The companies, in general, have been structuring an area called Corporate Integrity – CI to assure and evaluate existing processes as well as their commercial partners and service suppliers aiming to assure a solid and firm position in in the market where the companies develop their commercial activities. The Corporate Integrity – CI became an important tool to enhance competitivity and reputation for companies.
The CI has become more consolidated within the companies through professionals that are fully dedicated and through compliance committees that do not act only in internal procedures analysis, but also organize themselves to follow continuously the applicable legislations of the respective companies´sectors. Besides that, they are dedicated to risk mitigation associated to the operational disciplines and targeting to avoid situations that are non-compliant to laws. These actions guarantee that the company stays away from potential deviations (commercial, people, and reputation related).
The objective of CI is to encourage sustainable culture and generate to Senior Management and whole population of employees the basis of establishment of consistent culture by means of the creation of mechanisms that are autonomous. This allows that this organizational model increase business opportunities and anticipate potential threats, and for sure it can become a significative competitive differential. Most times the company becomes an example to be followed when all involved are collaborating.