Why is ISO 37301 Compliance Management Systems imperative to your organisation?
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 compliance framework based on ISO 37301 standard, 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, the existence of a CMS can be an indicator of 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 the establishment of concise and effective policies, procedures, and controls that set organisations on a path toward a compliance culture and high ethical and integrity standards.