Monitorship
Monitorship refers to the practice of appointing a third-party individual or organization to oversee and monitor the operations and activities of a company or entity. The monitor is typically tasked with ensuring compliance with laws, regulations, or agreements, and may also provide guidance on best practices and improvements. Monitoring can be put in place as a result of legal settlements, regulatory enforcement actions, or voluntary agreements, with the goal of preventing misconduct and promoting transparency and accountability. The monitorship may involve regular reporting, audits, and site visits to assess and verify compliance efforts.
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