Statutory compliance refers to the obligation of an organization or individual to follow the laws, rules, and regulations that apply to them. This can include laws and regulations at the local, state, national, and international level, depending on the jurisdiction in which the organization operates. Statutory compliance is important because it helps to ensure that organizations and individuals are operating in a responsible and legal manner, and helps to protect the public from harm. It is the responsibility of organizations to be aware of the laws and regulations that apply to them, and to take steps to ensure that they are in compliance with those requirements. Non-compliance with statutory requirements can result in fines, legal action, and damage to an organization’s reputation.