ISO 37301 Compliance and Compliance Management System
If your organization performs a regular risk assessment, You have probably noticed that company compliance with laws and regulations is consistently rated as one of the most important potential risks, Implementing and developing a compliance management system can help your organization maintain integrity and ensure compliance with all applicable laws, rules and regulations in a systematic, orderly and proactive manner, The ISO 37301 standard considered as a guideline for organizations wishing to implement a Compliance Management System (CMS), or those seeking to measure and evaluate their current system in accordance with international best practices.
The implementation of the compliance management system within the organization by assistance of our consultants to obtain ISO 37301 certification provides you with a guarantee that the system is implemented according to the highest standards of efficiency and professionalism, and enables the organization to implement the system effectively and helps it to discover other opportunities for improvement.
What is ISO 37301 Compliance Management System ?
The ISO 37301 Compliance Management System is a set of interrelated processes intended to ensure that an organization operates and conducts its activities in compliance with applicable laws, legislation and code of conduct. As a result of the nature of laws and their change from one country to another, and their continuous updating, Keeping up with these changes and updates is an endless process. The effective system of ISO 37301 is a tool to enable the organization to identify the appropriate documents to ensure their compliance and compliance with legislation and regulations and its internal system and work to improve it on an ongoing basis.
What is its purpose ?
The international standard ISO 37301 provides guidelines for creating an effective compliance management system, Based on the principles of good governance, transparency and sustainability, By describing the main components and processes of a compliance management system, It is a useful tool for organizations that wish to implement a compliance management system or are looking to standardize their system.
Benefits of Implementing an Compliance Management System
- Implementation of an effective compliance assessment system in accordance with the international standards ISO 37301
- Fulfilling the requirements of ISO 37301 to facilitate obtaining certification from granting bodies
- Develop and disseminate a positive culture within the organization towards compliance with local and international laws, standards and regulations
- Protect the reputation of the organization by preventing and detecting any unethical behavior
- Improving the organization’s proactive ability to identify non-conformities and take corrective and preventive actions
- Reduce the risk of any breach of laws and regulations
- Increasing the confidence of shareholders, investors and stakeholders in the organization’s business and activities and proving that the organization possesses an effective system to confront any violations or breaches of procedures, laws and legislation.
What is the correlation and relationship between ISO 37011 and ISO 37001 ?
Both ISO 37301 International Standard for Compliance Management and ISO 37001 International Standard for Anti-Corruption and Anti-bribery Management system are based on the basic principles of ISO, such as risk based thinking, In addition to the Deming PDCA cycle “Plan – Do – Check – Act” and the main difference between them is that the ISO 37301 standard takes a comprehensive and complete approach to compliance management, While ISO 373001 focuses on one aspect of compliance, which is the fight against corruption and bribery, Since the two standards are built on the basis of HLS and are based on the same principles, integration between them can easily be achieved during implementation.
What is the difference between ISO 37301 and ISO 19600
The international standard ISO 37301 is the latest and an alternative to ISO 19600, which was issued in 2014. Also, ISO 19600 is a guiding specification. However, ISO 37301 standard has a certificate that can be obtained from one of the approved certification bodies.
Entities and sectors interested in implementing ISO 37301
- All companies, institutions and organizations of all kinds, sizes and nature of their activities
- Government sectors and departments within ministries, departments and agencies
- Banks and companies operating in the financial and banking sector