ISO 19600 standards for a compliance management system has been implemented by many companies due to its advantage over local or regional standards. It can be applied by all organizational structures of all sizes internationally and in all industries. As per ISO 19600, an effective, organization-wide compliance management system enables an organization to demonstrate its commitment to compliance with relevant laws, including legislative requirements, industry codes and organizational standards, as well as standards of good corporate governance, best practices and ethics and community expectations. ISO 37001 is the new international standard designed to help organiÂzations implement an anti-bribery manÂagement system. It specifies a series of measures your organization can implement to help preÂvent, detect and address bribery. ISO 37001 specifies requirements and provides guidance for establishing, implementing, maintaining, reviewing and improving an anti-bribery management system. The system can be stand-alone or can be integrated into an overall compliance management system. This new standard requires the organization to implement a series of best practice measures, such as an anti-bribery policy, leadership, the appointment of a person to oversee anti-bribery compliance, personnel training, bribery risk assessments, due diligence on projects and business associates, the implementation of financial and commercial controls as well as reporting and investigation procedures. While ISO 19600 is the comprehensive compliance management system standard, ISO 37001 specifically addresses anti-bribery compliance risks through the establishment of a set of requirements. An organization which only meets the requirements of ISO 37001 will remain exposed to all other compliance risks unless it introduces a comprehensive compliance management system in accordance with for instance ISO 19600. A compliance management system based on ISO 19600 sets up all of the prerequisites necessary to help the organization meet its obligations, both regulatory and to other stakeholders, through maintaining a culture of integrity and compliance, and through a set of best practices proven to be successful. ISO 37001 is applicable only to bribery. It sets out requirements and provides guidance for a management system designed to help an organization to prevent, detect and respond to bribery and comply with anti-bribery laws and voluntary commitments applicable to its activities.
Conclusion
Organizations that aim to be successful in the long term need to maintain a culture of integrity and compliance and to consider the needs and expectations of stakeholders. Integrity and compliance are therefore not only the basis, but also an opportunity, for a successful and sustainable organization. Every organization can decide independently to what extent the implementation is still deemed proportional (with regard to the involved costs and benefits). The structure combined with the overlying principle of continual improvement enables organizations to act in accordance with ISO 19600 in every stage of their CMS-development and to improve upon it. ISO 37001 can be an innovative tool for international companies that carry out their business in a global market and that, because of their complexity, systematize systems to prevent corruption and related sanctions, thus leading to an economic and competitive advantage for the same company. Every organization can decide independently to what extent the implementation is still deemed proportional (with regard to the involved costs and benefits). The structure combined with the overlying principle of continual improvement enables organizations to act in accordance with ISO 19600 in every stage of their CMS-development and to improve upon it.
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