Section 7: Compliance and Recordkeeping
In this section, ensure compliance with all applicable laws, regulations, and industry standards. Review and update policies and procedures as necessary to maintain adherence to these requirements. Implement a recordkeeping system that accurately documents all activities, transactions, and decisions. This includes maintaining accurate and complete records of financial transactions, employee personnel files, and customer information. Ensure that all employees understand their roles and responsibilities in maintaining compliance and adhering to recordkeeping policies. Develop and implement procedures for reporting and investigating potential non-compliance issues. Conduct regular reviews and audits to verify compliance with applicable laws, regulations, and industry standards.