What is Compliance Management?
Compliance Management Definition
Compliance management is the process by which an organization plans, controls, and monitors whether or not a product complies with the applicable laws and regulations or a company’s self-imposed policy and standards. Compliance requirements often vary by industry and location. Some compliance requirements are environmental (e.g., RoHS and WEEE) while others are specific to a particular type of product such as medical devices (e.g., 21 CFR Part 11 and 21 CFR Part 820).
FAQs
Why is compliance important?
Compliance ensures that organizations conduct business within a legal or regulatory framework and operate in a safe manner. It also ensures that employee and/or customer issues are monitored and addressed in a systematic and efficient manner.
*Source: eimf.eu
What does compliance management include?
A compliance management system should be overseen by an organization’s board of directors and senior management team and include a formal compliance program. The compliance program should include the following elements:
- Documented policies and procedures
- Employee training
- Monitoring and/or audits
- System for responding to customer complaints
*Source: compliancecohort.com
How do you develop a compliance management system?
To develop an effective compliance management system:
- Ensure that it aligns with your company’s current goals and objectives
- Consider the requirements of your organization’s key stakeholders
- Define the scope of the compliance program, including roles and responsibilities
- Develop written policies and procedures to successfully sustain the program
- Identify laws and regulatory standards that apply to your business and develop a plan for meeting compliance
- Develop a system for managing non-compliance and continuous improvement
*Source: ipro.net