Challenge of Compliance in Ukraine
1. Significance of compliance for business in Ukraine
The term compliance has emerged in its current sense in the business environment in the USA within the last 30-40 years and refers to the system of internal regulations and measures implemented by commercial and non-commercial entities to ensure adherence to laws, as well as to specific industry standards, trade customs and regulations. Currently, in international business, this term also covers the system of control an entity uses to ensure that its directors, managers and other employees, as well as contractors and authorized representatives, adhere to all regulations applicable to the business, whether local or foreign...
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