Compliance

Compliance ensures companies comply with business laws and regulatory requirements for a specific business sector.

Compliance identifies and treats risks that could arise from infringement, especially the risk of violation of law or other regulations and the resulting consequences whether public or private.

Compliance is part of the internal control system.

Compliance activities include maintaining the company acts in accordance with legal requirements and recommendations of regulators.

An important part of compliance activity is communication with the competent authorities also. Usually with the Czech National Bank.