Helping You Manage Risk Every Day

Important elements of compliance programs

New Jersey business owners and executives know they must operate their companies ethically and legally. The need for this is fueled in part by the need and desire to avoid costly fines that can be associated with compliance violations. However, a strong corporate compliance program can do more than just help a company stay out of trouble. When properly developed and managed, a compliance program can fuel a business' success.

In today's society, a company's brand reputation and image can be one of its most valuable assets. As explained by Forbes, many compliance violations can wreck havoc with a company's reputation in the public eye. Once this damage has been done, it can take a long time and a lot of money to rebound from that experience. In the meantime, competitors may gain an advantage that only adds to the challenge for the company trying to come back from such an experience.

Several things can go into ensuring a business has a strong compliance program. Inc. magazine recommends that businesses develop holistic programs that span all departments and functions rather than instituting multiple processes and procedures for individual departments or functions. Also important is the need to keep up-to-date with technology and utilize advances that provide greater data security as well as fast and accurate retrieval of that data.

In addition to developing stringent standards internally, companies should conduct thorough checks into their vendors and other business partners to prevent being associated with a company that does not comply with important legal or ethical standards.

 

No Comments

Leave a comment
Comment Information
Contact Us

Start Growing Your Business Today

Risk does not have to be an obstacle. For a free consultation, email or call us today to learn how we can benefit your business. Our office is in Paramus and we work with businesses throughout all of central and northern New Jersey, as well as the New York metro area.

Bold labels are required.

Contact Information
disclaimer.

The use of the Internet or this form for communication with the firm or any individual member of the firm does not establish an attorney-client relationship. Confidential or time-sensitive information should not be sent through this form.

close

Privacy Policy

Image Attorney

Nicoll Davis & Spinella LLP

Paramus Office
95 Route 17 South, Suite 316
Paramus, NJ 07652

Phone: 201-254-0777
Paramus Law Office Map

Morristown Office
3 Prospect Street
Morristown, NJ 07960

Phone: 201-254-0777
Phone: 862-345-7173
Map & Directions

New York Office
450 Seventh Avenue
Suite 2205
New York, NY 10123

Phone: 201-254-0777
Phone: 212-972-0786
Map & Directions

Visit Us On

Review Us Top