What is ISO-FDIS 19600:2017?

ISO-FDIS 19600:2017 is a standard that provides guidance for organizations on establishing, implementing, maintaining, and improving an effective Compliance Management System (CMS). The acronym FDIS stands for Final Draft International Standard, which means that the standard has been approved as a final draft for international consensus.

Key Elements of ISO-FDIS 19600:2017

ISO-FDIS 19600:2017 emphasizes the importance of compliance management and sets out key elements necessary for the successful implementation of a CMS. These elements include:

Leadership commitment and responsibility: Top management plays a crucial role in ensuring that the organization's compliance objectives are established and communicated throughout the organization. They should also provide adequate resources and support for implementing and maintaining the CMS.

Legal and ethical requirements: Organizations need to identify and understand the legal and regulatory requirements related to their operations. They must also establish processes to ensure compliance with these requirements.

Risk assessment and mitigation: A comprehensive risk assessment should be conducted to identify potential compliance risks. Mitigation measures need to be implemented to reduce these risks to an acceptable level.

Training and awareness: Employees should receive appropriate training and education on compliance-related matters. Awareness campaigns can help foster a culture of compliance within the organization.

Internal controls: Effective internal controls, such as policies, procedures, and monitoring systems, are necessary to detect and prevent compliance breaches. Regular internal audits can help ensure the effectiveness of these controls.

Continuous improvement: Organizations need to continually review and improve their CMS to adapt to changing regulatory, legal, and business environments. Regular evaluations should be conducted to identify areas for improvement.

Benefits of Implementing ISO-FDIS 19600:2017

Implementing ISO-FDIS 19600:2017 can provide several benefits to organizations:

Improved compliance: By implementing a CMS based on this standard, organizations can enhance their ability to comply with applicable laws and regulations.

Enhanced risk management: The standard emphasizes the importance of identifying and mitigating compliance risks, helping organizations proactively manage potential issues.

Increased stakeholder confidence: Demonstrating compliance with internationally recognized standards can enhance stakeholders' trust and confidence in the organization.

Efficiency and effectiveness: A well-designed CMS can streamline compliance-related processes and improve overall operational efficiency.

Better decision-making: The standard encourages organizations to establish processes for collecting, analyzing, and using compliance-related data, enabling informed decision-making.

In conclusion, ISO-FDIS 19600:2017 provides organizations with a framework for establishing and maintaining an effective Compliance Management System. By following the guidance outlined in the standard, organizations can enhance their compliance efforts, mitigate risks, and improve overall performance.