What Is FAA Compliance Management?
Compliance management is a company's plan to identify and avoid violations of laws, regulations, standards, and other industry mandates that can result in costly fines, legal consequences, and reputation damage.
The regulations are there for a reason – they help protect your business, your employees, and your customers. Failing to adhere to regulatory compliance requirements can open you up to risks beyond just fines.
The key to managing compliance is recognizing it as an on-going cost of doing business. As such it should be budgeted and controlled.