THE ROLE OF COMPLIANCE POLICIES IN ACHIEVING REGULATORY ADHERENCE
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Abstract: THE ROLE OF COMPLIANCE POLICIES IN ACHIEVING REGULATORY ADHERENCE
This research explores the role of compliance policies in achieving regulatory adherence. Objectives include identifying key compliance policies, evaluating their effectiveness, and examining their impact on business operations. A survey design is chosen for its ability to gather comprehensive data from compliance officers and managers. The sample size, determined using Taro Yamane's formula, includes 350 respondents, ensuring statistical significance. The study focuses on the pharmaceutical industry in Lagos, known for its stringent regulatory environment. The reliability coefficient score for the survey is 0.86, indicating high reliability. Results indicate that robust compliance policies are crucial for achieving regulatory adherence and avoiding legal penalties. The study recommends that businesses should implement comprehensive compliance programs to ensure adherence to regulations and maintain operational integrity.
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