What is the primary purpose of a compliance committee?

The primary purpose of a compliance committee is to provide oversight and facilitate communication among various departments within an organization. This role is crucial as it ensures that compliance measures are effectively implemented across different areas of the organization.

A compliance committee helps to promote a culture of ethics and accountability, allowing for better coordination among departments. By fostering communication, the committee can address compliance issues, share best practices, and ensure that everyone is aligned with the organization’s compliance goals. This oversight is essential in maintaining the organization’s integrity and adhering to regulatory requirements.

The other options do not encompass the broader role of a compliance committee. Focusing solely on financial audits limits the scope of compliance to only one area, neglecting other vital aspects such as legal compliance, ethical standards, and risk management. Enforcing disciplinary actions is typically a function of human resources or management rather than the committee itself. Deciding on marketing strategies is outside the primary focus of a compliance committee, which centers on governance and adherence to laws and regulations instead.