What is ISO 37301:2017

Introduction

ISO 37301:2017 is an international standard that provides guidelines for establishing, implementing, maintaining, evaluating and improving a compliance management system within an organization. This standard aims to assist organizations in effectively managing their legal and regulatory obligations.

Key Features of ISO 37301:2017

ISO 37301:2017 outlines several key features that organizations should consider when implementing a compliance management system:

1. Leadership and Commitment: The standard emphasizes the importance of leadership involvement and commitment to ensure effective compliance management throughout the organization.

2. Context of the Organization: Organizations are required to identify their legal, regulatory, and contractual obligations and take them into account when developing their compliance management system policies and procedures.

3. Risk Assessment and Management: ISO 37301:2017 emphasizes the need for organizations to assess and manage compliance risks by implementing appropriate controls and mitigation measures.

4. Monitoring and Measurement: The standard highlights the importance of continuous monitoring, measurement, analysis, and evaluation of the effectiveness of the compliance management system.

Benefits of Implementing ISO 37301:2017

Implementing ISO 37301:2017 can provide several benefits to organizations:

1. Enhanced Compliance: By following the guidelines outlined in this standard, organizations can improve their understanding and management of legal and regulatory requirements, reducing the risk of non-compliance.

2. Improved Risk Management: ISO 37301:2017 helps organizations identify, assess, and manage compliance risks, allowing them to proactively mitigate potential issues before they arise.

3. Enhanced Reputation: Compliance with ISO 37301:2017 demonstrates an organization's commitment to ethical business practices, which can enhance its reputation among stakeholders and customers.

4. Increased Efficiency: By establishing a structured compliance management system, organizations can streamline processes, improve resource allocation, and reduce costs associated with non-compliance penalties.

In conclusion, ISO 37301:2017 provides a comprehensive framework for organizations to establish and maintain effective compliance management systems. By complying with this international standard, organizations can enhance their compliance procedures, mitigate risks, improve efficiency and reputation, and ultimately achieve sustainable success in today's complex regulatory environment.