(ISO: Geneva) -- Compliance has become one of the biggest challenges facing businesses today. Failing to have the right controls and culture in place could mean forking out millions in fines. So how can businesses get it right? Look no further than the newly published ISO 19600:2014 for guidelines on compliance management systems.

With new laws and regulations announced almost every week, and the steep cost of noncompliance, ISO 19600 could be just the solution that large and small organizations are looking for.

Simply put, compliance refers to a company obeying applicable laws, relevant industry standards, and internal policies (e.g., codes of conduct) it has decided to implement because they affect its business, staff, and treatment of consumers.

Basically, the foremost goal of compliance is to make sure that companies fulfill their responsibilities and effectively manage the risk of doing harm to their reputations.

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