Difference Between Statutory and Regulatory Requirements | IATF 16949 | Bhavya Mangla | English

Link to Blog: https://bit.ly/StatutoryRegulatory

Hi, and welcome to your YouTube channel. In today's video, we're going to be talking about the Difference Between Statutory and Regulatory Requirements.

Statutory requirements are the fundamental laws enacted by legislative bodies, while regulatory requirements are specific rules and guidelines developed by regulatory bodies to implement those laws. Statutory requirements carry the highest legal authority and can only be modified or repealed through a formal legislative process, whereas regulatory requirements are more specific, sector-focused, and can be updated or revised by the relevant regulatory bodies. Both types of requirements play crucial roles in ensuring compliance, maintaining public safety, and regulating various aspects of society.
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