With the publication of ISO 37301:2021 by the International Organization for Standardization (ISO) on April 13, 2021, ISO 19600:2014, which provided guidelines for compliance management systems, was officially replaced by ISO 37301:2021. This standard specifies the requirements for a Compliance Management System (CMS), enabling organizations to undergo certification audits for their compliance management systems.
A Compliance Management System does not focus solely on compliance with applicable laws and regulations but also encompasses all commitments made by the organization to its stakeholders. Through the implementation of this standard, organizations seek to reduce various risks, including reputational and financial risks, that may arise as a consequence of non-compliance. Organizations need to foster a culture of integrity and compliance to enhance their long-term success, resilience, and sustainability.