What is one of the primary goals of a compliance program?

One of the primary goals of a compliance program is to mitigate risk and ensure adherence to laws. This objective is crucial because compliance programs are designed to create an ethical environment within an organization, safeguarding it against legal breaches and financial penalties.

By focusing on compliance with applicable laws and regulations, organizations can identify potential risks early on and establish robust processes to prevent violations. This involves educating employees about their legal obligations, implementing policies and procedures that reflect legal requirements, and fostering a culture of integrity. In doing so, a well-structured compliance program not only protects the organization from the fallout of non-compliance but also enhances its reputation and operational effectiveness.

While increasing revenues, conducting external audits, and building corporate partnerships can be important business objectives, they do not encapsulate the primary purpose of a compliance program, which is fundamentally about managing risk and ensuring that the organization acts within the law.