The world of compliance management is changing in connection with ISO standards for Quality, Environment and the future release of ISO 45001 for Safety. The question that is often asked by many people is why we need to have so many standards when surely one will do.
So how can businesses get it right, without being complicated or cumbersome to implement and control? With new safety laws, regulations and standards appearing on a regular basis it can be a nightmare for organisations to keep abreast of the impacts to its business functions.
Corporate governance has become one of the biggest challenges facing businesses today. Failing to have the right controls and culture in place may result in major financial loss, especially when it’s connected with compliance to safety or environmental regulatory requirements.
ISO 19600 is it the answer?
With the recent publication of the new ISO 19600:2014 in December 2014 it is an easy option that organisations can look at to develop and implement effective compliance management systems. The standard can also be used as a benchmarking tool for existing systems against an international standard of compliance.
Now many businesses will question the need for this new standard and see it as unnecessary cost. But in the case of the Compliance Management standard it should do the opposite, reduce cost and improve management control processes.
Why Compliance Management?
The term compliance in general context simply means conforming to stated requirements. At an organisational level, it is mainly achieved through defined management processes which identify the applicable requirements (for example laws, regulations, and codes of conduct, industry standards, contracts, strategies and policies).
However compliance management is more than just meeting the requirements of laws and regulations. Organizations often have to deal with many safety requirements that may be defined by customers, investors or other stakeholders. We need to ensure that a robust means of benchmarking is maintained or holes may appear in an organisations business management framework.