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The term compliance describes a company's rule-compliant behavior with regard to legal and regulatory provisions. Compliance is intended to ensure that entrepreneurial risks are identified, assessed and met by implementing

technical solutions. Legal compliance applies equally to the documentation of transactions under commercial and tax law, but also to security-relevant solutions for electronic communication and, above all, archiving. Relevant guidelines for security-related compliance can be found in the British StandardBS 7799, the IT Basic Protection Manual of the German Federal Office for Information Security

(BSI), in the Principles for Data Access and Verifiability of Digital Documents

(GDPdU) and in the Principles for Proper Computer-aided Accounting Systems

(GoBS). Other directives and laws that take company-specific aspects into account include Basel II, which lays down equity requirements, the International Financial Reporting Standards (IFRS) for accounting, the Law on Control and Transparency in Business (KonTraG), which is intended to improve corporate governance in German companies, and the Sarbanes-Oxley Act, which increases balance sheet transparency for companies with international operations.

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Englisch: compliance
Updated at: 19.07.2006
#Words: 197