What is the function of a compliance committee?

The function of a compliance committee is primarily to oversee compliance strategies and review adherence to policies within the organization. This involves ensuring that the organization and its employees are following both internal policies and external regulations. The committee plays a critical role in identifying compliance risks, monitoring compliance activities, and implementing effective compliance programs. By doing so, it helps to foster a culture of ethical behavior and accountability, ultimately safeguarding the organization against legal and regulatory violations. This oversight is essential in maintaining the integrity of the organization and protecting its reputation.

The other options do not align with the specific responsibilities of a compliance committee. Developing marketing strategies, managing employee recruitment, and assessing financial performance are functions related to different areas of the organization, such as marketing, human resources, and finance, respectively. These activities, while important, fall outside the scope of compliance oversight, which is focused exclusively on adherence to relevant laws and internal policies.