Glossary definition: Compliance Issue

Resolving a Compliance Issue

Compliance Issue: A compliance issue is a situation in which a company or individual fails to comply with laws, regulations, industry standards, or internal policies. Compliance issues can range from minor infractions to serious violations of the law. They can involve financial regulations, environmental regulations, health and safety regulations, and more. Compliance issues can lead to costly fines, legal action, and reputational damage for the company or individual involved. In some cases, compliance issues can even lead to criminal prosecution. To avoid compliance issues, companies and individuals should always be aware of the applicable laws, regulations, and policies and make sure they are following them.