Enhanced compliance is critical for several reasons:
Risk Management: It helps in identifying and mitigating risks associated with regulatory breaches, which can lead to hefty fines and reputational damage. Ethical Standards: It ensures that the business operates within an ethical framework, fostering trust among stakeholders. Operational Efficiency: Streamlined compliance processes can lead to improved operational efficiency and better decision-making. Investor Confidence: Enhanced compliance can attract investors by showcasing the company's commitment to transparency and accountability.