Guidance on Compliance – ICC Institute SME Labs

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Basics on Compliance

In today's fast-changing business landscape, compliance has become a critical aspect for small- and medium-sized enterprises (SMEs) to ensure sustainable growth and mitigate risk. To address this need, the International Chamber of Commerce (ICC) Institute of World Business Law has published Basics on Compliance' - a comprehensive resource designed to help SMEs understand and implement effective compliance practices.

About the Guide

Developed by the Compliance Task Force of the ICC Institute of World Business Law as a final output of the 2023 ICC Institute SME Lab on Compliance webinars, this compendium provides SMEs with a thorough introduction to the basics of compliance. The webinars brought together legal experts, in-house counsel and academics to explore the essential elements of a compliance programme. This guide defines the concept of compliance and offers practical insights and guidance tailored specifically for SMEs.

Key topics covered include

• Understanding compliance: What compliance is, why it is important and what the compliance function entails.
• Building a compliance programme: Identifying the resources, costs and essential elements required to develop a compliance framework.
• Compliance clauses: Exploring the importance of using compliance clauses, such as anti-bribery and data protection clauses.
• Compliance as an investment: Making the case for greater investment in compliance and understanding the risks of inadequate compliance measures.

Equipping SMEs for success

This comprehensive guide to compliance is a valuable resource for SMEs seeking to navigate the complexities of compliance and ensure their business operates with integrity and accountability. By following the guidance provided, SMEs can build a robust compliance culture, mitigate risk and position themselves for long-term success.

For more detailed guidance, watch the recordings of the webinars here.

This guide, developed by the ICC Institute of World Business Law, is a feature of ICC One Click, ICC's wider offering of business solutions supporting small businesses every day, everywhere.