Compliance Framework Definition
A compliance framework is a set of policies, procedures, and guidelines that an organization uses to ensure that it is adhering to applicable laws and regulations. The framework can be tailored to the specific needs of the organization, and should be reviewed and updated on a regular basis.
The compliance framework should be designed to help the organization identify compliance risks, and put in place controls to mitigate those risks. It should also provide guidance on how to respond to compliance issues that may arise.
An effective compliance framework will help an organization avoid costly fines and penalties, and maintain a good reputation with regulators.
