Internal compliance definition

Internal compliance means following the procedures and best practices laid down by an organization in its ICP. It is an internal mechanism comprising of best practices, guidelines, and policies to minimise risk of legal and international policy violations.
Sample 1
Internal compliance. Program shall mean the BANC Internal Compliance Program, approved by the BANC Commission, as that program may be amended from time-to- time.
Sample 1

Examples of Internal compliance in a sentence

  • Internal compliance endorsements were issued for investment notes.

  • Internal compliance reviews monitor the adherence to federal regulations, state and local law, and IRB policies and procedures as well as accurate documentation in the IRB database.

  • Internal compliance with instructions and procedures for control of allergen risks should be verified regularly by trained internal auditors.

  • Internal compliance officer qualifications are outlined in the Accounting section.

  • Internal compliance program (CP42) for export control is an effective tool to ensure compliance with the FEFTA and other relevant regulations, and to prevent violations against the regulations.METI recommends that internal CP be established and export control be conducted accordingly.

  • Internal compliance will assure that no more than 5% of LIHEAP funds will be used.

  • RISK MANAGEMENT POLICY Internal compliance and control policies and procedures of the Company and policies for the monitoring and evaluation of risk management systems to assess the effectiveness of those systems in minimizing risks that may impact adversely on the business objectives of the Company were established.

  • Internal compliance audits shall be conducted by internal compliance assessors who together have knowledge and understanding:• about the provisions of the standard ETSI EN 319 411-1 [7],• about PKI areas and information security area,• about legislation in the area of providing trust services.

  • An Internal compliance committee has been set up to redress the complaints received regarding sexual harassment at workplace.

  • Internal compliance audit preparations should begin approximately eight weeks prior to the site visit with pre-visit activities and conclude within four weeks following the site visit with the final audit report.

Related to Internal compliance

  • Internal control means a process effected by an entity's governing board, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives in the following categories:

  • Internal Controls has the meaning set forth in Section 4.07(d).

  • Internal control over financial reporting means a process effected by an insurer’s board of directors, management and other personnel designed to provide reasonable assurance regarding the reliability of the financial statements, i.e., those items specified in Section 5(B)(2) through 5(B)(7) of this regulation and includes those policies and procedures that:

  • Internal Control Event means a material weakness in, or fraud that involves management or other employees who have a significant role in, the Company’s internal controls over financial reporting, in each case as described in the Securities Laws.

  • Internal Costs means as defined in paragraph 1.1 of Schedule 4 (Heads of Expenditure) (and shall, for the avoidance of doubt, not include any revenue costs or capital investment relating to the implementation of any project pursuant to an Annual Business Plan) and excluding Joint Committee Costs

  • Internal combustion engine or ‘engine’ means an energy converter, other than a gas turbine, designed to transform chemical energy (input) into mechanical energy (output) with an internal combustion process; it includes, where they have been installed, the emission control system and the communication interface (hardware and messages) between the engine's electronic control unit(s) and any other powertrain or non-road mobile machinery control unit necessary to comply with Chapters II and III;

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • external company means a foreign company that is carrying on business, or non-profit activities, as the case may be, within the Republic, subject to section 23(2);

  • Internal test assessment means, but is not limited to, conducting those tests of quality assurance necessary to ensure the integrity of the test.

  • LEGAL COMPLIANCE This Agreement and any transaction with, or payment to, you pursuant to the terms hereof is conditioned on your representation to us that, as of the date of this Agreement you are, and at all times during its effectiveness you will be, a bank as defined in Section 3(a)(6) of the Securities Exchange Act of 1934 (or other financial institution) and not otherwise required to register as a broker or dealer under such Act. You agree to notify us promptly in writing if this representation ceases to be true. You also agree that, regardless of whether you are a member of the NASD, you will comply with the rules of the NASD, including, in particular, Sections 2310, IM 2310-2, and 2830 of the NASD Conduct Rules, and that you will maintain adequate records with respect to your customers and their transactions, and that such transactions will be without recourse against you by your customers. We recognize that, in addition to applicable provisions of state and federal securities laws, you may be subject to the provisions of the Xxxxx-Xxxxxxxx Act and other laws governing, among other things, the conduct of activities by federal and state chartered and supervised financial institutions and their affiliated organizations. As such, you may be restricted in the activities that you may undertake and for which you may be paid, and, therefore, we recognize that you will not perform activities that are inconsistent with your statutory and regulatory obligations. Because you will be the only one having a direct relationship with the customer, you will be responsible in that relationship for insuring compliance with all laws and regulations, including those of all applicable federal and state regulatory authorities and bodies having jurisdiction over you or your customers to the extent applicable to securities purchases hereunder.

  • Environmental and Social Standards or “ESSs” means, collectively: (i) “Environmental and Social Standard 1: Assessment and Management of Environmental and Social Risks and Impacts”; (ii) “Environmental and Social Standard 2: Labor and Working Conditions”; (iii) “Environmental and Social Standard 3: Resource Efficiency and Pollution Prevention and Management”;

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);

  • Environmental and Social Standard 8: Cultural Heritage”; (ix) “Environmental and Social Standard 9: Financial Intermediaries”; (x) “Environmental and Social Standard 10: Stakeholder Engagement and Information Disclosure”; effective on October 1, 2018, as published by the Bank.

  • Financial Reports means the Annual Financial Statements and the Interim Accounts.

  • Non-Compliance means failure/refusal to comply the terms and conditions of the tender;

  • Internal Collaboration means collaborative arrangements within a group of companies or within various strategic business. units/subsidiaries/operating divisions in order to gain a strategic position whilst sharing resources, profits and losses as well as risks

  • major non-compliance outcome notification means a notification received by a council under section 19N(3) or (4) of the Food Act 1984, or advice given to council by an authorized officer under that Act, of a deficiency that does not pose an immediate serious threat to public health but may do so if no remedial action is taken

  • Material Compliance Matter has the same meaning as the term defined in Rule 38a-1, and includes any compliance matter that involves: (1) a violation of the federal securities laws by Distributor (or its officers, directors, employees, or agents); (2) a violation of Distributor's Rule 38a-1 policies and procedures; or (3) a weakness in the design or implementation of Distributor's Rule 38a-1 policies and procedures.

  • Internal audit means an independent appraisal activity established within a state agency as a control system to examine and evaluate the adequacy and effectiveness of other internal control systems within the agency.

  • Reportable Compliance Event means that any Covered Entity becomes a Sanctioned Person, or is charged by indictment, criminal complaint or similar charging instrument, arraigned, or custodially detained in connection with any Anti-Terrorism Law or any predicate crime to any Anti-Terrorism Law, or has knowledge of facts or circumstances to the effect that it is reasonably likely that any aspect of its operations is in actual or probable violation of any Anti-Terrorism Law.

  • Year 2000 Compliance has the meaning set forth in section 17.29 of the Management Agreement.

  • Compliance Statement is that certain statement in the form attached hereto as Exhibit B.

  • Annual Statement of Compliance As defined in Section 3.13.

  • Internal Auditor means the person employed or engaged by the Corporation to perform the internal audit function of the Corporation;

  • Reliability means the degree of performance of the elements of the electric system that results in electricity being delivered to and from an applicant in the amount desired while avoiding adverse effects on the adequacy and security of the electric supply, defined respectively as:

  • Compliance Review means an inspection of the home, grounds, and files to determine compliance with these regulations.