Frequently Asked Questions

Compliance to Standards and Regulations - Why is it critical in business?

The core purpose of compliance is to identify and avoid potential red flags in your business. Corporate compliance helps employees act responsibly and ensures adherence to laws, regulations, and standards, mitigating legal risks and fostering trust with stakeholders. Non-compliance can lead to fines, reputational damage, and even legal consequences, impacting operations and profitability.

Does MetaSCROLL application certify you for a particular standard?

MetaSCROLL helps you implement and maintain compliance as defined by the standard, but does NOT certify for a particular standard. Certification has and should be done only by an independent 3rd party agency or partner.

How can you effectively implement compliance in business?

An organization, big or small, needs to create policies, procedures, and processes to address compliance requirements. The management must ensure that all employees are aware of these and are on the same page. 

Effective compliance procedures can include:

• Staying on track with changing laws and regulations

• Ensuring employees follow procedures

• Scheduling regular internal audits

• Providing staff training and education

• Taking corrective action

• Establishing two-way communication at all levels

• Enforcing consistent discipline

Why is business compliance essential for smaller organizations?

Smaller organizations often overlook compliance due to a lack of business knowledge, time, and focus on core operations. However, it’s crucial for them to set up efficient compliance programs to function smoothly in the market. It is essential for companies, especially smaller ones, to be compliant with government rules, laws, and regulations.

What is the significance of compliance and its advantages?

Compliance promotes ethical conduct, protects against legal liabilities, and enhances organizational reputation. It fosters a culture of integrity, transparency, and accountability, attracting investors, customers, and employees, while reducing operational risks and enhancing competitiveness.

What is the value of compliance?

Compliance instills trust and confidence in stakeholders, safeguarding the organization’s reputation and sustainability. It demonstrates commitment to ethical practices, legal obligations, and societal responsibilities, fostering long-term relationships and sustaining business growth amidst regulatory complexities and market uncertainties.

Why is it important to ensure compliance?

Ensuring compliance is crucial for upholding legal obligations, maintaining stakeholder trust, and sustaining business operations. It mitigates risks, prevents penalties, and preserves reputation, fostering a culture of responsibility and integrity essential for long-term success and growth in a dynamic regulatory landscape.

What is the most important task of compliance?

The most critical task of compliance is to ensure alignment with applicable laws, regulations, and industry standards. This involves comprehensive risk assessments, policy development, training, monitoring, and continuous improvement to uphold ethical standards, mitigate risks, and safeguard organizational interests effectively.

What are the benefits of Compliance?

1. Avoid legal liabilities: Ensures your business avoids legal disputes and criminal charges due to non-compliance with the law, protecting your reputation and financial stability.

2. Boost business growth: Creates strong business standards, promoting a positive working environment and healthy work culture, which naturally drives business growth.

3. Enhances public relations: Meeting legal obligations can be showcased in marketing materials, demonstrating commitment to ethical practices and enhancing reputation.

4. Improves operations and safety: Legal guidelines help create a safer working environment, increasing worker productivity and operational safety.

5. Better employee retention: Ensures a fair, professional, and safe environment, fostering employee loyalty and retention.

Few examples of Compliance in business: 

• Ensuring timely regulatory reporting

• Conforming to state or country regulations and requirements

• Complying with Information Security and Environmental laws

• Adhering to and protecting Customers' Personal Data

• Determining and mitigating risks

Management’s Role in Compliance

CEOs and management must set a good example (“tone from the top”) and credibly exemplify and communicate these values internally and externally. They should proactively raise the issue of compliance, promote communication, and avoid a culture of fear where employees stay silent regarding mistakes and grievances.

Which Standards and Compliance's are currently supported by MetaSCROLL application?

The following standards are currently supported.

ISO 27001 : Information Security Management System (ISMS)

DPDP : Indian Digital Personal Data Protection Act (DPDP Act 2023)

DPF 2023 : EU US - Data Privacy Framework 2023 (DPF 2023)

ISO 9001 : Quality Management System (QMS)

ISO 14001 : Environmental Management System (EMS)

ISO 45001 : Occupational Health and Safety (OHS)

ISO 22301 : Business Continuity Management (BCM)

ISO 26000 : Social Responsibility (Corporate Social Responsibility - CSR)

ISO 14064 : Greenhouse Gas Emissions (GHG)

PCI-DSS : Payment Card Industry Data Security Standard (PCI DSS)

GDPR : General Data Protection Regulation (GDPR)

IT ACT 2000 : Information Technology Act, 2000 (IT Act 2000)

ISO 37001 : Anti Bribery Management System (ABMS)

CCPA : California Consumer Privacy Act (CCPA)

ITIL : Information Technology Infrastructure Library (ITIL)

ISO 11889 : Trusted Platform Module (TPM)

GMP : Good Manufacturing Practices (GMP)

FTC : Federal Trade Commission (FTC)

MPAA : Motion Picture Association of America (MPA)

+ Note : The standards supported might not be of the latest version of the Standard / Regulation that has been officially published.

please contact us , if you cannot find the compliance Standard or Regulation that your business needs.