Tuesday, 5 december 2017 | Redacción CEU
It is the new booming concept of the business world. Both large and small firm agendas begin to bet on Compliance. No company is exempt from any of their employees to try exceeding the limits of legality, but it can be prepared to minimize the risk of a potential crime occurring. Companies have found in this new discipline the formula to combat corruption and bad business practices from inside. Is Compliance a temporal trend or a vital system in companies? Why does it seem so important? What is the relationship between Compliance and Human Resources?
Compliance has begun to concern both SMEs and large companies. Companies also have responsibilities in matters of corruption and bad practices that occur "under their roofs". The direct offenders, if they are also their employees, are not the only responsible ones for these transgressions. That is, at least, the idea that seems to push the reforms that were introduced in the Criminal Code in 2010 and 2015 about the criminal liability of legal persons. Companies must supervise workers and have a prevention program to reduce the risk of crimes happening. Otherwise, they are exposed to serious risks as some of the Spanish sentences already show.
What is Compliance?
This discipline was born in the financial world. A complicated scenario that requires an extensive and complex regulatory development. Financial entities needed to protect their organizations from possible breaches of the law. Therefore, they had to count on specialized legal assistance. If they wanted to comply with the regulatory framework, they needed to get to know it in-depth. It was necessary to create a safety net dedicated exclusively to the development and supervision of a system of identification, prevention, control, adoption of solutions and advice within companies. Although at first the companies with subsidiaries abroad were the only ones integrating these new systems, more and more national companies of all kind, large and small, are beginning to adopt measures that push the regulatory compliance of their companies.
It is evident that Compliance is a trend, it even has been chosen as the legal topic of the year, not for that reason it has to be a passing issue. Keeping up with the legislative requirements in the workplace is a challenge for companies. They need help to verify that they definitely comply the law –which is becoming increasingly complicated due to globalization–, minimize risks, establish effective prevention and control models, and so, in case of having to stand in front of a judge, the company can show that the system that they used was effective and sufficient. The good compliance exercise intends that nobody is able to question that everything that was possible has been done to comply with the current regulatory framework.