BS ISO 37301:2021 - TC

What is ISO 37301 about?  

ISO 37301 is about implementing an ongoing compliance management system, and obtaining a better understanding of good compliance. 

ISO 37301 specifies requirements and provides guidelines for establishing, developing, implementing, evaluating, maintaining and improving an effective compliance management system within your organization.  

In addition to the requirements, which follow the ISO high-level structure, ISO 37301’s annexes provide guidance for those interested in gaining a deeper understanding of the need for, and benefits of, good compliance. 

Note: All requirements specified in ISO 37301 that refer to a governing body apply to top management in cases where an organization does not have a governing body as a separate function. 

Who is ISO 37301 for? 

All organizations have compliance requirements, so ISO 37301 applies to all; regardless of sector, type, size and nature of activity. ISO 37301 is useful for: 

• Leadership teams of firms 
• Compliance managers/officers 
• Risk managers/officers 
• Internal auditors 
• Internal controllers 
• Human resource divisions 
• Governing bodies 
• Management and employees at all levels 

Why should you use ISO 37301? 

When compliance is well managed, it helps you to detect and prevent breaches. Having a compliance management system ensures that you cater to your clients/consumers in a legal manner. This reduces your risk of fines and lawsuits. The absence of a compliance management system can lead to legal troubles, and also hinders your ability to provide services. 

ISO 37301 is suitable to enhance compliance-related requirements in other management systems. ISO 37301 also assists in improving the overall management of all your compliance obligations. ISO 37301 provides these benefits to you: 

• Brings together your organization’s key structures, policies, processes and procedures, making compliance management more efficient 
• Helps to better understand context, business operations, obligations and compliance risks, and implement reasonable steps to meet obligations 
• Prevents (or enables the early detection) of rules violations; decreasing the risk of fines, penalties, work shutdowns, lawsuits and reputational damage 
• Ensures that your organization acts lawfully, and conducts its operations ethically 
• Improves business opportunities and sustainability 
• Protects and enhances your reputation and credibility 
• Takes into account expectations of interested parties 
• Demonstrates your commitment to managing your compliance risks  
• Increases the confidence of third parties in your capacity to achieve sustained success 

BS ISO 37301:2021 contributes to UN Sustainable Development Goal 8 on promoting decent work for all and economic growth; Goal 11 on making cities and communities inclusive, safe, resilient and sustainable; and Goal 12 on responsible consumption and production. 

What’s changed since the last update?  

BS ISO 37301:2021 cancels and replaces ISO 19600:2014, which has been technically revised. 

The main changes of BS ISO 37301:2021 are as follows: 

• BS ISO 37301 now contains requirements with additional guidance for use based on those requirements 
• BS ISO 37301 follows ISO’s requirements for a harmonized structure for management system standards