This new standard, published on 13 April, specifies requirements and provides guidelines for establishing, developing, implementing, evaluating, maintaining and improving an effective compliance management system (CMS) within an organisation. It is said that the standard is applicable to all types of organizations regardless of the type, size and nature of the activity, as well as whether the organisation is from the public, private or non-profit sector. A CMS is a set of processes to make sure that an organisation operates in accordance with all applicable laws, regulations and codes of conduct. ISO 37301 and ISO 37001 (the standard for anti-bribery management systems) are both based on the ISO principles for management systems, such as the risk-based approach as well as the “Plan-Do-Check-Act” (PDCA) process cycle. Whereas ISO 37301 takes a holistic approach to compliance management, ISO 37001 focuses on anti-bribery management. Because both standards are based on the same principles, it is said that they can easily be implemented in an integrated way.
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