You will have a solid answer to this question once you complete this assignment. Until then, start with the basics. Virtually all business activities conducted in the United States are regulated, not only by governmental entities, but by professional entities as well. Compliance with all federal, state, and local laws and ordinances is a prerequisite to the long term health and survival of any business. And compliance with industry and professional practice standards can be equally important, especially when mandated for accreditation and government contracts qualification.
Certain industries are more regulated than others. Some highly regulated industries include health care, financial services, accounting, oil and gas, and public utilities. When a business fails to comply with all applicable laws, regulations and standards, the business and the individuals who manage it often face a variety of sanctions. Sanctions can range from the loss of an operating license and/or program certification, to civil and criminal sanctions including monetary penalties and fines (corporate and person), to prison sentences.
Attachments:
4893727_1_20190812-BA-3301-Compliance-Report-Assignment-Rev-11–1-.docx
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