What are internal and external requlators?

Answer 1

Internal regulators are mechanisms within an organization that help manage and control its operations, ensuring adherence to policies, procedures, and standards. These can include management practices, internal audits, and compliance committees. External regulators, on the other hand, are outside entities or agencies that establish rules and standards for organizations to follow, often related to industry practices, safety, and legal requirements. Examples of external regulators include government agencies, industry associations, and regulatory bodies that oversee compliance and enforce laws.