What is ISO-FDIS 19600:2017?

ISO-FDIS 19600:2017, also known as the ISO 19600 standard, is a set of guidelines developed by the International Organization for Standardization (ISO) for implementing an effective compliance management system. This standard provides organizations with a framework to establish, evaluate, maintain, and continuously improve their compliance practices.

The Scope of ISO-FDIS 19600:2017

The ISO 19600 standard is applicable to all types of organizations, regardless of their size, industry, or location. It is designed to assist organizations in identifying and managing legal, regulatory, and ethical obligations related to compliance. The standard covers various aspects of compliance, including risk assessment, policy development, communication, training, monitoring, and reporting.

The Key Principles of ISO-FDIS 19600:2017

ISO 19600 emphasizes several key principles that organizations should consider when implementing a compliance management system:

Leadership commitment: Top management must demonstrate their commitment to compliance and establish a culture of integrity throughout the organization.

Legal and ethical framework: Organizations need to identify and understand relevant laws, regulations, and ethical standards and ensure compliance with them.

Risk-based approach: Compliance activities should be prioritized based on the organization's risk profile, addressing the most critical areas first.

Clear policies and procedures: Policies and procedures must be developed, documented, communicated, and regularly updated to guide employees' behavior and actions.

Training and awareness: Adequate training should be provided to employees to ensure they understand their compliance obligations and know how to fulfill them.

Monitoring and measurement: Regular monitoring and measurement of compliance performance are necessary to identify gaps, weaknesses, and opportunities for improvement.

Continuous improvement: Organizations should establish mechanisms to continuously improve their compliance management system based on feedback, analysis, and lessons learned.

The Benefits of Implementing ISO-FDIS 19600:2017

Organizations that implement ISO 19600 can benefit in several ways:

Enhanced compliance: By following the guidelines provided by ISO 19600, organizations can better understand and meet their compliance requirements.

Improved risk management: The risk-based approach helps organizations prioritize actions and allocate resources effectively to address compliance risks.

Increased transparency: Clear policies, procedures, and communication channels ensure that employees understand their obligations and make informed decisions.

Stakeholder confidence: Implementing a recognized international standard demonstrates an organization's commitment to compliance and may enhance its reputation with customers, partners, and regulators.

Operational efficiency: Streamlined compliance processes and improved documentation can lead to more efficient operations and cost savings.

In conclusion, ISO-FDIS 19600:2017 provides organizations with a systematic framework for managing compliance and aligning with legal, regulatory, and ethical requirements. By following the principles outlined in this standard, organizations can enhance their compliance practices, mitigate risks, and build stakeholder confidence.