Challanges to Compliance Department

COMPLIANCE DEPARTMENT (PROBLEMS AND RECOMMENDATIONS)Textile Certifications |

|

|

Azhar Ahmed AliShaheer Hassan (Students at IoBM) |

INTRODUCTION

In today’s world, the competition in the Textile sector has urged the companies to associate them with standards and certifications in order to get the place in the market. The purpose of these standards and certifications is to prove that the practices that are followed in the organization are up to the international standards. In short, these certifications provide a legal backing to the organizations that are claiming to be a part of them.

The various standards that are followed in an organization are audited by the certifying bodies time to time. The purpose of these audits is to verify the implementation of the standards and to measure the deviations (if any) and to take the countermeasures and corrective actions to eliminate the variations from the standards. Internal audits are also carried out prior to External audits and countermeasures are taken. All these activities in an organization are performed by the Compliance department.

Compliance department is one of the most important departments of an organization that are maintaining and implementing the standards in an Organization. The department is responsible for maintaining the reputation and integrity of the company. The duties of compliance department are vast ranging from implementing the standards, following the regulations, implementing the ethical practices, maintaining the environmental friendly working atmosphere, social accountability, auditing and ensuring a fair play in trade and business.

There are many standards that are implemented in a company. Few of them are discussed here along with the functions of those standards.

We have also tried to highlight the working of a compliance department and the problems faced in maintaining these different standards all at one place.

WRAP |...