33+ Sample Compliance Policy Statement

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33+ Sample Compliance Policy Statement

What Is a Compliance Policy Statement?

Examples of Compliance Policy Statements

How to Create a Compliance Policy Statement

FAQs 

What should a compliance policy include?

What are the three main parts of a compliance policy?

What is the purpose of a compliance statement?

What Is a Compliance Policy Statement?

A compliance policy statement is an enacting statement that enjoins members of a company or an organization to adhere to a certain set of rules or standards. It is a written statement or a collection of statements for members to comply with and adhere to, usually regarding targeted policies. 

According to an article by Deloitte, compliance training is crucial for any work environment to sustain itself and succeed. What is usually covered in organizational compliance training can range from personal data protection, anti-money laundering, import or export control, to dealing with state officials.

Examples of Compliance Policy Statements

Laws and rules are part of any organization. These help enforce order and structure within an organization or company. From the simple to the complex, compliance policy statements can come in varying degrees. The examples listed below are some common policies or scenarios wherein full compliance is often expected. 

Anti-Corruption: Policies prohibiting corrupt and unethical behavior may seem like the most obvious rule that should be followed. However, reality paints a very different picture than what is stated on paper. Systemic and institutional corruption is a problem many nations and governments face. This has forced many agencies and decision-makers to reinforce anti-corruption compliance laws in an effort to curb corruption. And this is not just limited to the public sector, private companies are not spared as well. Internal rules and regulations that address corruption must not only be documented and written down. More importantly, it should be strongly implemented in order to weed out misconduct and dishonesty. Dress Code: In most corporate environments, professionalism is highly expected from everyone in the organization. Not just in conduct and behavior, but also in appearance. Dress code policies are perhaps the simplest and most direct way to promote professionalism. Companies may enact compliance laws and impose sanctions on employees who do not follow certain dress codes. Rules such as these are typically part of a broader regulatory body contained in an organization’s code of conduct or employee handbook. Plagiarism: Plagiarism is not only confined to the academic and literary world. Just the idea of stealing someone else’s idea without proper citation is typically frowned upon regardless of field or discipline. Plagiarism is a such a serious offense that many companies make it a point to dedicate an entire section of their handbook to it. In schools and universities, for instance, both students and faculty members are expected to comply with the rules on intellectual property. In addition, compliance policies on plagiarism should aptly describe in detail the consequences and sanctions should an individual fail to comply with the rules. Environment and Sustainability: Policies that promote environmental conservation and sustainability are present in many organizations, are not just exclusive for non-profit organizations or foundations. With the world facing the harsh reality of climate change, individual environmental action cannot be enough. Collective action and corporate responsibility are more important and urgent than ever. Studies have shown that the will power and compliance coming from industrial and commercial entities are needed if there is to be a significant improvement in the current climate crisis. Ethical Guidelines: Misconduct and behavioral problems are found everywhere, not only in select companies or organizations. Whether or not a company is a private entity or a public institution, it is the internal responsibility of an organization to promote decency and proper decorum. Especially in highly structured environments, ethical standards should be in place; and compliance to these standards be monitored at all times.

How to Create a Compliance Policy Statement

A strong and effective compliance policy statement takes a delicate balance of impactful language and insightful perception. To achieve this, follow the step-by-step instructions below.   

Step 1: Give a Brief Background or Introduction

A comprehensive compliance policy statement requires an introductory paragraph. It does not have to be lengthy and detailed. A brief background or company history should suffice. You can begin by introducing the company and explaining a little about your organization’s past. A vision or mission statement can also be integrated in your introduction.   

Step 2: Reiterate Commitment

An effective compliance policy statement uses action-oriented language and affirms commitment. Whether it pertains to ethical guidelines or simple dress code rules, it is important to reiterate the company’s commitment to uphold these policies. There must be a dedicated statement or sentence that expresses this within the compliance policy.   

Step 3: Enumerate Principles and Values

An essential part of any compliance statement is its principles and values. Make sure to enumerate and specify your company’s core values or guiding principles. These may be contained in a single paragraph or organized in clear bullet points. For example, if your company wants to reiterate its commitment to diversity in the workplace, then values such as equality and fair treatment ought to be incorporated in the compliance policy statement.    

Step 4: Impose Sanctions

Lastly, a compliance policy statement would not be complete without identifying the corresponding sanctions. This is usually the concluding part of the compliance statement wherein warnings and disciplinary reminders are explained. This section is important because it is where consequences are outlined and expounded on, if compliance is not met. It serves as the supporting argument that emphasizes the notion that failure to comply is not to be condoned. 

FAQs 

What should a compliance policy include?

A compliance policy should always include a reaffirmation of a commitment to the company’s values and principles. It also touches on the various sanctions imposed in the event that compliance is not followed.

What are the three main parts of a compliance policy?

According to Mvorganizing.org, the three main parts of a compliance policy are the compliance monitoring and auditing reports, trends, and corrective action plans.

What is the purpose of a compliance statement?

The purpose of creating a compliance policy statement is to ensure that adherence to the rules are followed. It is meant to inspire discipline, order, and structure in the workplace and any other professional environment.

A compliance officer’s job may seem simple on the surface; but the reality of having to deal with non-compliance and other issues presents a lot of challenges. Having a solid and impactful compliance policy statement is an important first step. Customize your own statement today by browsing the wide selection of templates above!