What is Compliance and why is it important?

Generally, compliance means adhering to a rule, such as a policy, standard, or law. It becomes particularly important when it comes to dealing with clients you contract with. For example, if you go to a party with a client and they give you a small gift before you leave, should you keep it?

Why does a business need compliance? How does it help me to save money, grow a successful business, control business operations? In addition to providing a g…