ISO 37301 - COMPILIANCE MANAGEMENT SYSTEM
ISO 37301:2021 is a standard that sets out the requirements and guidelines for establishing, implementing, maintaining, reviewing, and improving an effective compliance management system within an organization.
Organizations that implement a compliance management system in accordance with ISO 37301:2021 are likely to benefit from improved legal compliance, reduced risks and costs associated with non-compliance, enhanced reputation, and increased stakeholder confidence.
The standard is designed to help organizations of all types and sizes to manage their compliance obligations and ensure that they are meeting their legal, regulatory, and ethical requirements. The compliance management system helps organizations to identify, assess, and manage their compliance risks, and to monitor and review their compliance performance on an ongoing basis.
The requirements of ISO 37301:2021 cover the following areas:
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CONSULTING STAGES FOR ISO 37301:2021 IN SINGAPORE
- The first step in the consulting process is to conduct a gap analysis to assess the current state of the organization's compliance management system.
- This stage involves a review of the existing compliance processes, procedures, and policies against the requirements of ISO 37301:2021 to identify areas that require improvement.
- The next stage involves planning and preparation for the implementation of the compliance management system.
- This includes developing a project plan, identifying roles and responsibilities, and determining the resources needed for implementation.
- During this stage, the consultant works with the organization to develop a compliance management system that meets the requirements of ISO 37301:2021.
- This includes the development of policies and procedures, the identification and assessment of compliance risks, and the implementation of controls and measures to manage these risks.
- Once the compliance management system has been developed, the organization will begin the process of implementing it.
- This involves training employees on the new policies and procedures, setting up compliance monitoring and reporting mechanisms, and establishing communication channels to ensure that employees understand their roles and responsibilities in the new system.
- After the implementation, an internal audit is conducted to determine whether the compliance management system meets the requirements of ISO 37301:2021.
- Our consultant will work with the organization to identify areas that require improvement and to develop an action plan to address any non-conformities.
- The final stage in the consulting process is a management review, where the senior management team evaluates the compliance management system's effectiveness and decides on any necessary improvements.
- Our consultant will work with the organization to develop a plan for continual improvement of the system and help ensure that the organization remains in compliance with ISO 37301:2021 requirements.
ISO 37301 - EDG GRANT FOR SINGAPORE BUSINESS'
The Enterprise Development Grant (EDG) is a grant administered by Enterprise Singapore, which is a government agency that supports the growth of Singaporean businesses. The EDG provides funding support for eligible companies to implement qualifying projects, including the implementation of ISO 37301:2021.
Companies can apply for the EDG to support up to 80% of qualifying costs related to the implementation of ISO 37301:2021. These costs include consultancy fees, software and hardware purchases, and training costs. The grant also covers a wide range of activities, such as gap analysis, implementation, and certification of the compliance management system.
To apply for the EDG grant in Singapore for ISO 37301, you will need to follow these steps:
EDG GRANT PROCESS IN SINGAPORE
- Before you apply for the EDG grant in Singapore for ISO 37301, you should first check whether your company is eligible.
- To qualify for the grant, your company must be registered and operating in Singapore, have a minimum of 30% local shareholding, and be in a financially sound position.
- In addition, your company must not be involved in any illegal or unethical activities, and you should not have any outstanding tax liabilities or government loans.
- The EDG grant can support up to 80% of the qualifying costs for projects that help companies to upgrade and transform their business operations.
- The grant covers three categories of projects: (a) Core Capabilities, (b) Innovation and Productivity, and (c) Market Access.
- The implementation of ISO 37301 can be classified under Core Capabilities, which is defined as developing business strategies and operational capabilities to improve productivity and competitiveness.
- To apply for the EDG grant, you will need to prepare a detailed proposal outlining your project and how it will improve your business operations.
- The proposal should include a description of the project, the expected outcomes, the timeline, the budget, and how the project will contribute to the overall growth of your company.
- You should also provide relevant documents to support your application, such as financial statements, company profiles, and project plans.
- You can submit your application for the EDG grant through the Business Grants Portal (BGP).
- The BGP is a centralized platform where you can apply for multiple grants from different government agencies in Singapore.
- You will need to create an account on the BGP and complete the application form, providing all the required information and supporting documents.
- After you have submitted your application, it will be reviewed by the relevant government agency.
- The review process typically takes up to six weeks, and the agency may request additional information or clarification during this time.
- If your application is approved, you will receive a Letter of Offer outlining the terms and conditions of the grant.
- Once you have completed the project and met all the requirements of the grant, you can claim the grant by submitting the necessary documents and receipts through the BGP.
- The grant will be disbursed to your company within 2-4 weeks after the claim is verified.