The International Organization for Standardization has now published the international standard for compliance management systems ISO 19600:2014.
ISO 19600 is based on and will replace AS 3806-2006, the Australian Standard for compliance programs – as a result, when regulators adopt ISO 19600 as their compliance benchmark for regulated entities.
ISO 19600:2014 provides guidance for establishing, developing, implementing, evaluating, maintaining and improving an effective and responsive compliance management system within an organization.
The guidelines on compliance management systems are applicable to all types of organizations. The extent of the application of these guidelines depends on the size, structure, nature and complexity of the organization. ISO 19600:2014 is based on the principles of good governance, proportionality, transparency and sustainability.