Basics on Compliance
In today’s fast-changing business landscape, compliance has become a critical aspect for small- and medium-sized enterprises (SMEs) to ensure sustainable growth and mitigate risk. To address this need, the International Chamber of Commerce (ICC) Institute of World Business Law has published Basics on Compliance’ – a comprehensive resource designed to help SMEs understand and implement effective compliance practices.
About the Guide
Developed by the Compliance Task Force of the ICC Institute of World Business Law as a final output of the 2023 ICC Institute SME Lab on Compliance webinars, this compendium provides SMEs with a thorough introduction to the basics of compliance. The webinars brought together legal experts, in-house counsel and academics to explore the essential elements of a compliance programme. This guide defines the concept of compliance and offers practical insights and guidance tailored specifically for SMEs.
Key topics covered include
- Understanding compliance: What compliance is, why it is important and what the compliance function entails.
- Building a compliance programme: Identifying the resources, costs and essential elements required to develop a compliance framework.
- Compliance clauses: Exploring the importance of using compliance clauses, such as anti-bribery and data protection clauses.
- Compliance as an investment: Making the case for greater investment in compliance and understanding the risks of inadequate compliance measures.
Equipping SMEs for success
This comprehensive guide to compliance is a valuable resource for SMEs seeking to navigate the complexities of compliance and ensure their business operates with integrity and accountability. By following the guidance provided, SMEs can build a robust compliance culture, mitigate risk and position themselves for long-term success.
For more detailed guidance, watch the recordings of the webinars here.
This guide, developed by the ICC Institute of World Business Law, is a feature of ICC One Click, ICC’s wider offering of business solutions supporting small businesses every day, everywhere.
