Compliance Certification with ISO 37000:2021 Governance of Organisations. Is Your Organisation Meeting Your Stakeholders’ Expectations? You need a compliance certification…
Compliance certification with ISO 37000:2021 makes it possible to meet your business and financial goals and behave ethically and responsibly. In the eyes of your stakeholders, business success has become much more advanced than just production efficiency, making a profit, and keeping investors happy. To truly succeed, today’s business organisations must satisfy a broader base of stakeholders, placing more burden on the business to meet a growing list of ethical, social and environmental responsibilities.
ISO 37000:2021, “Governance of Organisations – Guidance,” strives to help businesses handle that increasing burden by providing guidelines and guidance on best practices related to good governance, which can help position the organisation as highly ethical and gain credibility, integrity and a competitive edge in the marketplace.
Principle of Good Governance
The components of ISO 37000:2021 provide a viable framework of mechanisms, processes and structures that are internationally recognised as keys to establishing and demonstrating good governance.
Those components encompass:
- Establishing an Operational Purpose
- Defining Core Values In Line With the Purpose
- Utilising Sound Strategies to Achieve Results
- Demonstrating Governing Oversight Throughout the Operation
- Showing Accountability In All Things
- Ensuring Stakeholders Are Engaged In the Process
- Showing Ethical and Effective Leadership
- Recognise Data as a Valuable Resource for Decision Making
- Realising Uncertainty and Its Role in Risk Management
- Maintaining a Transparent Role In Society
- Demonstrating Viability and Responsibility Toward Future Generations
Society’s expectations of organisational behaviour and performance just got higher
Used as a framework for an organisation’s governance system, ISO 37000 can help the business look beyond its self-interests and towards the general needs of society. Demonstrating sound and good governance builds outside trust in the organisation, but evidence also shows that such practice improves business performance and contributes to social and environmental integrity.
The standard applies to any size private, public and not-for-profit organisation with the intent to demonstrate social responsibility and a desire to utilise good governance to position the organisation and society for success.
Risk Governance: A key component
Good governance risk management practices can reduce the likelihood and impact of unintended results from business decisions that could cause potential harm to the organisation, the environment, or society in general.
And while the risk is a factor in all successful business practices, a proactive risk management framework – which assesses, treats, communicates, monitors and reviews risk – will protect the business and equip and enable the organisation to take appropriate risk and take advantage of future opportunities.
The benefits of compliance certification
Organisations of any type or size can benefit greatly by practising good governance, starting with highly effective performance, responsible stewardship and ethical behaviour. And those benefits extend further, as the practice of good governance (and the resulting compliance certification):
- Helps increase organisational effectiveness, sustainability, accountability and fairness.
- Fortifies systems, methods and processes to spot red flags and help avoid major incidents.
- Builds a higher level of trust among stakeholders, shareholders and the public.
- Demonstrates that the organisation is acting with integrity, transparency and accountability.
- Establishes credibility in the marketplace as the organisation makes a conscientious investment in responsible management.
- Provides a competitive advantage among potential business partners who perceive a well-governed organisation.
- Mitigates the potential risk of failure within the organisation’s systems.
- Conforms to an effective corporate compliance program’s internationally recognised and widely advocated regulatory requirements.
- Helps establish an integrated management system basis that lends to conformity with other standards such as ISO 37002:2021 (Whistleblowing Management Systems), ISO 37301 (Compliance Management Systems) and ISO 37001:2016 (Anti-Bribery Management System).
Certification through ABAC® Center of Excellence
ABAC® Centre of Excellence Limited “ABAC Certification” provides Compliance Certification to ISO 37000:2021 governance of organisations utilising in-depth assessment techniques derived from the suitability of your internal documentation and the review of relevant processes for the scope of your organisation. Our experienced certification audit experts assess the organisation’s total corporate governance program, from system design, implementation, control and continuous improvement to ensure that the framework adequately conforms to the guidelines of the standard.
Through the compliance certification process, we can identify any non-conformities, make suggestions for improvement, recommend best practices and provide analysis to point out red flags, material risks and growth opportunities.
To learn more about ABAC® Centre of Excellence and its compliance certification programs, contact:
Zafar Anjum, MSc, MS, LLM, CFE, CII, MICA, Int. Dip. (Fin. Crime), Int. Dip. (GRC)MABI, MIPI, M IoD, Int. Dip. (AML)
Phone: +44 207 8681415
Mobile: +44 7588 454959
ABAC® is an independent certification body powered by CRI Group. At ABAC®, we can provide you with training and certification for ISO 37002 Whistleblower Management System, ISO 37001 Anti-Bribery Management Systems (ABMS), ISO 37301 Compliance Management System and ISO 31000 Risk Management – Guidelines. ABAC® works with clients of all industries, sizes and organisation types to develop robust programs using the latest techniques and best practices that help foster an ethical business culture.