The Standard is designed to assist businesses and organisations with implementing and maintaining compliance systems.
Standards Australia ran the secretariat of the Project Committee ISO/PC 271 Compliance Management Systems, which was responsible for producing the publication.
Alongside Australia were 12 participating member nations from around the world which all contributed to the development of the compliance standard.
Fulfilment of laws, obligations
In general terms, the intended goal of compliance management is for companies to ensure they fulfil all laws and regulations in how they manage their business, staff and customers.
"The standard provides an internationally recognised management system which will assist organisations with maintaining organisational compliance," said Dr Bronwyn Evans, Chief Executive Officer of Standards Australia.
"In partnership with stakeholders such as the Governance Risk Compliance (GRC) Institute, Australia was able to lead the world in developing this ground-breaking international compliance standard," Dr Evans said.
Martin Tolar, Managing Director of GRC Institute, said that effective compliance programs are fundamental to business sustainability in an increasingly complex, competitive, and inter-dependent world economy. Tolar chaired the ISO/PC 271 Compliance Management Systems committee throughout the development process.
"The standard will ultimately assist in mitigating the business risk of non-compliance," Tolar said.
"We are thankful for the support provided by Standards Australia in running the secretariat and appreciate the lead role taken by Australian stakeholders in developing the international compliance standard."
