Risk and Compliance (RAC) refers to the processes, policies, and practices organizations use to identify, assess, manage, and mitigate potential risks while ensuring adherence to laws, regulations, and internal standards.
This involves:
- Identifying risks that could threaten an organization’s operations, reputation, or finances
- Creating and applying controls to avoid or lessen the impact of these risks
- Monitoring compliance with industry regulations, legal requirements, and company policies
- Conducting regular audits and assessments to ensure ongoing compliance and effectiveness of risk strategies
- Offering employees the training and resources they need to foster a culture of compliance and ethical conduct
In practice, effective risk and compliance management helps businesses avoid fines, legal issues, and reputational damage. It also ensures operational continuity, safeguards employee well-being, and builds stakeholder trust. By addressing risks proactively and maintaining compliance, organizations enhance resilience and foster sustainable growth.
Setting Your Program up for Success from the Start
eBook
Promotional Allowance Program Regulations
When designing a market development funds (MDF) or CO-OP program, the promotional allowance program regulations can be complex. But they don't need to be.
In this guide, we explain what the regulations mean and how they impact your programs.
Download now, to learn how to create a program that your corporate legal team and finance department will love.
In this guide, we explain what the regulations mean and how they impact your programs.
Download now, to learn how to create a program that your corporate legal team and finance department will love.