Is Compliance Management really worth it?

A Compliance Management System provides your company with the tools and processes to ensure compliance of all legal requirements. It includes both outside regulatory and legal requirements as well as internal policies and bylaws. The tools and processes aim to detect compliance violations and also protects a company from these violations as this can cost a company in terms of fines, penalties or even imprisonment.

The most important of compliances is always legal compliance as it involves a contract with customers or business partners. It is important for companies to have a compliance strategy in place to implement policies set up by the management.

What is the role of a Compliance Manager?

A Compliance Manager is accountable for the company’s compliances. This includes designing and implementing a strategy to ensure legal compliances while preventing any major issues or violations from occurring.

The Compliance Manager will:

• Track regulatory developments that may affect the company
• Maintaining policies and procedures that help a company to remain within the regulatory framework
• Make sure all relevant stakeholders are in the loop
• Conduct a risk assessment to avoid, mitigate, or remediate risks, if any.
• Conduct a policy audit to find any gaps in the existing policy and make corrections.
• Provide training  to help employees understand the policies and apply it to their day-to-day work.
• Build accountability with disciplinary guidelines and protocols that are enforced.
• Generate reports for the management.

The benefits of a Compliance Management System

Every company requires a robust Compliance Management System to prevent any legal problems that could hinder growth, Implementing this system will help you build a supply chain that is stable and dependable. It will also help you design consistent business processes to ensure systematic and organic growth for your company.

Who can apply for an ISO 37301 Compliance Management System Certification?

• Private organisations: the company at large, a business unit or a subsidiary
• Public organisations: administrations, services, political parties
• Not-for-profit organisations: NGOs, charities, foundations, association

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Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence is an independent certification body that provides education and certification services for individuals and organisations on a wide range of disciplines and ISO standards, including:

• ISO 31000:2018 Risk Management- Guidelines;
• ISO 37000:2021 Governance of Organisations;
• ISO 37002:2021 Whistleblowing Management System;
• ISO 37301:2021 (formerly ISO 19600) Compliance Management system (CMS);
• Anti-Money Laundering (AML); and
• ISO 37001:2016 Anti-Bribery Management Systems ABMS.

ABAC®, is designed to assist in developing processes and systems that help your organisation effectively manage compliance risks and foster a system-wide culture of business integrity. ABAC® offers a complete suite of solutions designed to help organisations mitigate the internal and external risks associated with operating in multi-jurisdiction and multi-cultural environments while assisting in the development of frameworks for strategic compliance programs. Comply with confidence with ISO 37301!

Gain competitive advantage with our ABAC® Program!

ABAC® is designed to help develop processes and systems that help your organisation effectively manage compliance risks and foster a system-wide business integrity culture.

1. Safeguard your organisation’s reputation
2. Strengthen your organisation’s position in international business deals
3. Become attuned to new & exiting laws, rules & regulations globally
4. Verify your current compliance management system
5. Correct potential breaches in a swift & effective manner
6. Prove your organisation’s integrity levels & business values
7. Be alerted when the risk of breaching any regulation exists
8. Reduce the risk of prosecution – courts in multiple jurisdictions can consider an organisation’s overall commitment to compliance when determining penalties in corruption-related legal cases

We offer a complimentary GAP analysis to our clients who opted for the ISO 37301 CMS, Integrated Management System including both ISO 37001 ABMS and ISO37301 CMS in one go to reduce the costs and efforts. 

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Prove that your business is ethical

Complete our FREE Highest Ethical Business Assessment (HEBA) & evaluate your current Corporate Compliance Program. Find out if your organisation’s compliance program is in the line with worldwide Compliance, Business Ethics, Anti-Bribery and Anti-Corruption Frameworks. Let ABAC® experts prepare a complimentary gap analysis of your compliance program to evaluate if it meets “adequate procedures” requirements under the UK Bribery Act, DOJ’s Evaluation of Corporate Compliance Programs Guidance and Malaysian Anti-Corruption Commission.

We offer a complimentary gap analysis to our clients who opted for the ISO 37301 CMS or looking for an Integrated Management System, including both ISO 37001 ABMS and ISO37301 CMS in one go to reduce the costs and efforts.

FREE GAP ANALYSIS