What is ISO 37301?
ISO 37301 is a Type A management system standard which sets out the requirements and provides guidelines for establishing, developing, implementing, evaluating, maintaining, and continually improving a compliance management system (CMS). A CMS provides organisations with a structured approach to meet all compliance obligations, i.e., requirements that they mandatorily have to comply with, such as laws, regulations, court rulings, permits, and licenses, as well as those that they voluntarily choose to comply with such as internal policies and procedures, codes of conduct, standards, and agreements with communities or NGOs.
ISO 37301 can be applied to all organisations, regardless of their size, nature, or complexity of activity. CMS is based on integrity, good governance, proportionality, transparency, accountability, and sustainability.
Why is ISO 37301 important for organisations?
For organisations seeking growth and long-term success, consistently adhering to compliance obligations is a must, not an option. A CMS based on the requirements and guidance of ISO 37301 equips organisations with a set of tools (policies, processes, and controls) that allows them to establish and maintain a culture of compliance.
Organisations with a CMS based on ISO 37301 commit to sound norms of corporate governance, good practices, and ethical conduct. However, the CMS cannot eliminate the risk of non-compliance. In this regard, ISO 37301’s requirements and guidance improve the organisation’s ability to identify and respond to non-compliance. In some jurisdictions, a CMS can indicate the organisation’s due diligence and commitment to compliance which may be useful in limiting legal liability and lowering penalties for infringements of relevant laws.
ISO 37301 includes requirements that address competence, communication, and awareness. By complying with these requirements, organisations ensure that the top management’s vision is translated and embedded into the conduct of managers and employees. ISO 37301 also requires and encourages establishing concise and effective policies, procedures, and controls, which set organisations toward a compliance culture and high ethical and integrity standards.
ISO 37301 outlines the quest for compliance, which begins with setting the tone at the organisation’s top. The commitment toward a good compliance culture is articulated by the organisation’s governing body and top management through a compliance policy and setting compliance objectives at various levels. In addition, the governing body and top management are also required to show leadership and commitment by providing the necessary resources, establishing a compliance function, defining the roles and responsibilities and so on. Above all, the governing body and top management should actively and visibly demonstrate their commitment to the CMS through their actions and decisions.
Benefits of implementing ISO 37301 in an organisation
By implementing a CMS based on ISO 37301, organisations will be able to:
- Undergo a formal third-party conformity assessment for their CMS
- Develop a positive culture of compliance
- Quickly and effectively address compliance concerns
- Protect their reputation and safeguard their integrity by preventing and detecting unethical conduct
- Improve business opportunities and sustainability
- Carefully consider the requirements and expectations of internal and external interested parties
- Develop solid and valuable relationships with regulators
- Increase the confidence of third parties in the organisation’s capacity to achieve sustained success
- Build customer trust and loyalty
How do I get started with ISO 37301 training courses?
Considering the rapid development of industries and global market competition, being an ISO 37301 certified professional allows you to help your organisation continuously meet compliance obligations.
Our experts are willing to assist you in obtaining an ISO 37301 credential and developing your career skills.
