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ISO 37301: Certification of Compliance Management Systems

ISO 37301

In an increasingly regulated world focused on business ethics, the Compliance has become an essential element for organizations. Compliance, which comes from the English verb "to comply", refers to the function and set of practices that ensure that a company complies with all laws and regulations applicable to its operations. This function has become crucial in risk management and promoting an ethical business culture.

Compliance covers a wide range of areas, from accounting and data security to consumer protection and environmental management. Its main objective is to avoid legal risks, fines and damage to the company's reputation by ensuring that all operations comply with local and international laws and regulations.

ISO 37301
ISO 37301 Compliance

What system or standard can an organization follow to have or define a satisfaction system?

In this case, through the ISO 37301 regarding the Certification of Compliance Management Systems. ISO 37301 contains a series of requirements to implement a Compliance Management System and is completed with a guide that includes guidelines that, while not mandatory, can be a great help to implement these requirements in organizations.

This standard establishes the requirements of a management system for:

  • Identify the main obligations that affect organizations and carry out an exercise to evaluate the risks of non-compliance.
  • Promote a culture of compliance in a broad sense, promoting the training and awareness of staff.
  • Demonstrate commitment of the organization's top leaders and, at the same time, provide them with appropriate control mechanisms.
  • Strengthen the “compliance function” as an increasingly relevant function for the sustainability of organizations.
  • Being able to evidence before third parties commitment to compliance.

Structure of the ISO 3730 standard:

  1. Scope.
  2. Normative references.
  3. Terms and definitions.
  4. Context of the organization.
  5. Leadership.
  6. Planning.
  7. Medium.
  8. Performance evaluation.
  9. Improvement.

When implementing a Compliance Management System based on the ISO 37301 standard, we find the guidelines necessary to implement, evaluate, maintain and improve said Compliance Management System in an effective way, a tool that ensures that the organization complies with the compliance policy, the incentives and the justification of compliance training for all professionals who are involved. when changes occur in the organization, in legislation or in external commitments.

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Actions to address risks must be taken into account and opportunities when carrying out the treatment of risks and opportunities, integrating all actions with the corresponding processes and evaluating the effectiveness of the Compliance Management System based on the ISO 37301 standard. The objectives pursued by compliance must be coherent with the policy, the crime prevention plan and must be planned.

The importance of compliance lies in several fundamental aspects:

  • Reduction of legal and financial risks: Violations of laws and regulations can result in significant penalties, reputational damage and costly litigation. Proper compliance helps reduce these risks and ensures that the company operates within legal limits.
  • Promotion of business ethics: A solid compliance program fosters an ethical environment in the organization. This is not only critical to complying with the law, but also attracts employees, investors and customers who value integrity and corporate social responsibility.
  • Protection of company assets: Compliance encompasses data security, which has become critical in a world where information is a valuable asset. Data protection not only complies with privacy laws, but also prevents the loss of sensitive data and exposure to cyber attacks.
  • Effective supply chain management: Complying with regulations in the supply chain is essential to avoid costly disruptions and ensure products are safe and of high quality.
  • Improving investor and customer confidence: Companies that operate with integrity and comply with regulations are more attractive to investors and customers, which can translate into better financial performance and higher market value.

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