orporate compliance plan
There are many good reasons to implement an effective corporate compliance plan for organizations, especially as penalties can be lowered by an effective corporate compliance plan (Youngberg, 1998). Fines for organizations are assessed in court and various scores and multipliers are used to determine the fine.
“The low end of the range without an effective program can be higher than the high end of the range with an effective program.” (Youngberg, 1998; 111).
Showing that an effective corporate compliance plan can save money for any organization as fines are not tax deductable but compliance plans are (Youngberg, 1998).
The corporate compliance plan is to prevent and detect violations of the law by its employees and other agents. The difficulty in constructing a corporate compliance plan is deciding what should go into it. The plan needs to be tailored to the organization (Youngberg, 1998) as no generic plan will meet the exact needs of any one......
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