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[Audio] Welcome to KPMG Professional Services. This presentation will enable you to gain an understanding of compliance and its common types, evolution of compliance over decades, importance of compliance, as well as barriers to compliance, and consequences of non compliance..
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[Audio] Compliance is an organization's ability to adhere to all relevant legal and regulatory requirements. It is a critical internal control, involving top management's commitment to address legal and regulatory matters, and the establishment of proper internal controls. Employees must be aware of laws and regulations that apply to them and be able to effectively implement and comply with them. Organizations must comply with both external, such as laws and regulations from government authorities, and internal sources, such as decisions from senior management and the Board. Understanding and upholding compliance requirements keeps the organization current on rules and regulations and safeguards its assets. Thank you..