COMPLIANCE has long been a daunting task for businesses worldwide. From tax filings to financial reports, business registration and more, there is no doubt that all of these have caused headaches to business owners, accountants, and auditors every fiscal year.
In fact, some people have started viewing these measures negatively, as exemplified by the quote, 'Compliance is like a game of chess, except there are no winners, only people who don't get fined.'This begs the question: Can we convince business owners that compliance can be a catalyst for positive change? Beyond avoiding fines and penalties, compliance brings about benefits that can significantly impact a business's success.
If compliance were easy, there is no doubt that most businesses will choose to adhere to regulations without hesitation. However, the reality is that compliance can be complex, time-consuming, and costly. For businesses that fail to comply the first time, the consequences can be severe, creating a domino effect that makes it even harder to achieve compliance in the future.In contrast, continuous compliance creates a positive ripple effect.
New Era For Corporate Compliance
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
PNP chief to Quiboloy political backers: Advise compliance with lawSunStar Publishing Inc.
Read more »
Mandaue urges compliance with E-Cigarettes lawSunStar Publishing Inc.
Read more »
Teacher gives students bite marks for 'non-compliance'CEBU CITY — A male teacher at Don Vicente Rama Memorial National High School allegedly bit two male Grade 10 students, aged 14 and 17, after they refused to lift their shirts and show their abs.
Read more »
Online sellers’ compliance to withholding tax order ‘positive’ —BIRLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
BIR renews partnership on tax admin, compliance with multi-sectoral groupsLatest Philippine news from GMA News and 24 Oras. News, weather updates and livestreaming on Philippine politics, regions, showbiz, lifestyle, science and tech.
Read more »
LTFRB-Davao nears full compliance in transport consolidationTHE Land Transportation Franchising and Regulatory Board-Davao Region (LTFRB-Davao) reported that it has consolidated 92 percent of units outside Davao City under the Public Transport Modernization Program (PTMP).
Read more »