Internal compliance definition

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.
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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.
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Examples of Internal compliance in a sentence

  • Internal Compliance Inspections Internal compliance inspections, when performed, will be performed or coordinated by the organization providing ESH services to the space to be inspected, and will be based upon the standards in effect for that space (see Section I, above).

Related to Internal compliance

  • Internal control means the systems of control devised by management to ensure that the council’s objectives and management policies are achieved and adhered to in a manner that promotes the economy, efficiency and effectiveness on the use of resources, that financial and other records are reliable and complete and that the councils assets and interests are safeguarded;

  • 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 Borrower’s internal controls over financial reporting, in each case as described in the Securities Laws.

  • Internal Costs means, for any period, the product obtained by multiplying (a) the actual total FTEs (or portion thereof) devoted to the performance of activity under this Agreement during such period, by (b) the applicable FTE Rate.