Hello All Last week I received a request on my Youtube channel to discuss the differences between compliance and conformity. And this is the topic of this week's episode of my #5minpodcast. Often companies decide to follow a specific rule not because it has to but because it is good for the business, such as obtaining ISO certification. In this case, we are talking about compliance. And compliance is everything the company decides to do because it benefits the company and its ecosystem. . Compliance, on the other hand, are rules that the company must follow to stay in business. For example, a publicly-traded company has audits and reports that need to be sent to regulatory bodies such as, in the case of the USA, the Security and Exchange Commission, or SEC. These reports are not made because the company wants to, but because it is a legal requirement for them to be disclosed. This kind of rule is what underlines the concept of compliance. It is the set of rules that exist to ensure that the organization acts in obedience to the laws and regulations in force. In the episode, I also cover cases where conformity rules become, over time, compliance rules due to changes in the behavior of society, new laws and regulations, and other factors. Finally, I discuss the recent example of Elon Musk's Twitter purchase deal. One party considers the information about fake accounts compliance, and the other states it is a conformity rule already declared in the purchase memorandum. I hope you find this episode helpful in understanding how your project is affected by compliance and conformity rules. Have a great week. Ricardo. #compliance, #conformity, #communication, risk #governance https://ricardo-vargas.com/podcasts/understanding-the-differences-between-conformity-and-compliance/