The foremost goal of compliance is to make sure that companies fulfil their responsibilities and effectively manage the risk of doing harm to their reputations.
ISO 19600 Compliance management systems gives comprehensive guidance with helpful and easy-to-follow examples for users wanting to implement a compliance management system or benchmark their framework against a standard.
Many businesses question the need for compliance and its associated costs. But not bothering to have the right controls in place could result in hefty fines as well as reputational damage.
The chair of the committee that developed the new standard, Martin Tolar, says the new standard could greatly assist the continual improvement of compliance frameworks.
'ISO 19600:2014 is expected to serve as a global benchmark for compliance officers, businesses, commentators, academics – and regulators and the courts of course. And thanks to the standard’s customisable guidance, all organisations can benefit.'