"Compliance is not new in itself, as it is a matter of course that organisations comply with laws and voluntary commitments. The structured approach to this task is new. (Dr. Barbara Neiger)
Compliance can be implemented with recommendations for action as part of a compliance management system (CMS) in the field of compliance with legal requirements.
The Compliance Management System refers to the totality of measures and processes set up within the company in order to ensure compliance with rules. The task is to ensure sufficiently that risks to essential regulatory infringements are identified in good time and that such regulatory infringements are prevented.
Since an appropriate CMS will never be able to fully prevent infringements, it must also identify and communicate any infringements that still occur in a timely manner so that such sources of errors can become known and be avoided in the future.
The guiding principle is "tone at the top", i.e. that the respective leaders lead by example and live up to compliance with rules. In addition to formal-structural compliance, such as a recommendation for action, informal-cultural control elements, e.g. the corresponding value orientation, are added.
Under the CMS, the following four elements are envisaged:
- Comliance Manual
- Compliance Guide
- Compliance Recommendations
- Appointment of a Compliance Office