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Manual of good regulatory practices
In the business world, understanding and applying good regulatory practices is essential to ensure legal compliance and promote safe and efficient operations. As this is an area of growing interest and need, understanding the complexities of this function becomes essential for professionals who aim to add increasing value to their departments.
But after all, what are good regulatory practices?
Good regulatory practices involve the set of activities, procedures kenya mobile database and policies that an organization implements to ensure compliance with applicable laws and regulations.
Being compliant also means that companies are better prepared to prevent and mitigate regulatory risks , as well as avoid penalties, which can be beneficial in strengthening their reputation in the market.
Good regulatory practices are outlined and often required by regulatory agencies and regulators, such as the National Health Surveillance Agency (ANVISA) in Brazil and the Food and Drug Administration (FDA) in the United States, depending on the sector and jurisdiction.
The professionals involved, the regulatory bodies and the law
Implementing good regulatory practices involves a diverse range of professionals, including regulatory lawyers, government relations specialists, compliance consultants and regulatory process analysts.