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Clare Naden

Standards

New ISO Standard for Compliance Management Makes Everyone a Winner

ISO 37301 provides everything needed to develop, implement, maintain, and improve an effective compliance management system

Published: Monday, May 3, 2021 - 12:00

The regulatory landscape is constantly changing, and organizations need systems in place to ensure they keep up. But complying with laws and regulations can be so much more than just ticking a box: it can be the result of a deeply entrenched culture of integrity and good ethics. All of which is a recipe for business success. A compliance management system is a way of getting there and a new standard has just been published to help.

ISO 37301—“Compliance management systems—Requirements with guidance for use,” provides everything an organization needs to know to develop, implement, maintain, and improve an effective compliance management system. It replaces ISO 19600:2014—“Compliance management systems—Guidelines.”

Howard Shaw, chair of the ISO technical committee that developed the standard, says compliance is not just about avoiding fines and should not be limited to one department. It is everyone’s affair.

“Organizations want to work and collaborate with companies they can trust,” Shaw says. “And trust is built on a company culture of doing the right thing, where every employee contributes because they understand and believe in the importance of it. Central to this is good leadership and clear values, which have to come from the top.”

In this way, ISO 37301 recommends the involvement of senior management and advocates compliance as a principle of good governance. It also recommends integrating compliance management right across the organization, to be embedded in its financial, risk, quality, environmental and health and safety management processes as well as its operational requirements and procedures.

The benefits of implementing ISO 37301 are expected to include not only a reduced risk of fines due to noncompliance, but enhanced reputation and credibility, providing greater confidence to clients and other stakeholders and increased business opportunities.

The standard can also be integrated into an organization’s other management systems, such as those following guidelines or are compliant to ISO 37001 for anti-bribery or ISO 9001 for quality, thus increasing efficiencies, effectiveness, and productivity.

ISO 37301 was developed by ISO technical committee ISO/TC 309—“Governance of organizations,” whose secretariat is held by BSI, ISO’s member for the United Kingdom. It can be purchased from your national ISO member or from the ISO Store.

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About The Author

Clare Naden’s picture

Clare Naden

Clare Naden is a news and communications specialist at the International Organization for Standardization (ISO). Naden has extensive experience, both agency and client for a diverse range of sectors. Skills include developing and executing both local and pan European or global PR plans, writing across a variety of mediums for different audiences, strategic counsel, internal and external communications and media relations. A member of the International Food, Wine and Travel Writers' Association. WSET 2.

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