Kendall's Online blog

Monday, May 01, 2006

International Compliance

Its not news these days that companies try as much as possible to ensure that profits remain central to their operations.The only other concept that comes close to that is their market share .I don't blame them.Who would?

This becomes imperative more so, when it is listed on a stock exchange .That most often than not dictates that it furnishes clients,investors and potential investors with financial information regarding the firm on a quarterly basis.This is where COMPLIANCE comes in .According to wikipedia,the on-line encyclopaedia,"Regulatory compliance refers to systems or departments at corporations and public agencies to ensure that personnel are aware of and take steps to comply with relevant laws and regulations".When this is not done, then everything can go haywire as we have seen with a few companies lately, with Enron being a critical example. Companies can tweak accounting reporting standards but one way or the other they cant get away with it as sooner rather than later, they are exposed.
That is why the institute that administers the Chartered financial analyst examination ensures that that is a very important pre-requisite before one is made a member of the body, and one promises to adhere by its ethics and codes of responsibility.


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