What role does a compliance committee serve in an organization?

A compliance committee plays a crucial role in promoting the compliance program within an organization. Its primary responsibility is to ensure that the organization's policies and procedures align with legal requirements and ethical standards. This promotion involves raising awareness about the importance of compliance, providing training to employees, and facilitating communication regarding compliance issues throughout the organization. The committee may also oversee compliance audits, monitor regulatory changes, and address any violations that occur, all of which contribute to fostering a culture of compliance.

By focusing on the promotion of the compliance program, the committee helps to embed compliance into the organization's operations, making it an integral part of the business strategy. This not only helps the organization avoid legal pitfalls but also enhances its reputation and operational effectiveness.