All business organizations are expected to conform to the rules and regulations that govern their industry and the regions they operate in. Sometimes, these regulations can vary from region to region, and depending on which regions a company operates in, the offices/plants in those locations will have to conform to those specific regulations. In addition, the company itself will have policies and specifications that the employees will have to comply with. Therefore, compliance training is mandatory for organizations to ensure that employees are aware of them and discharge their duties in compliance with these rules and regulations.
Compliance training is of two types:
- Corporate compliance - covering industry policies and procedures, and applicable local and federal laws
- Regulatory compliance - Rules and regulations meant for the industry or the industries in the region