Certification according to the UNE 19601 standard: a strategic move to achieve excellence in Compliance
In today’s increasingly regulated and complex business environment, organizations face constant scrutiny from their suppliers, customers, and stakeholdersin general. In this scenario, the consequences derived from a regulatory breach or irregularity in an organization can be highly damaging, not only in economic terms, but also in terms of reputation and ability to operate normally.
In this context, the adaptation of the organisation’s Compliance Management System in accordance with the UNE 19601:2017 standard on Criminal Compliance Management Systems (hereinafter, UNE 19601) and obtaining its certification, involves the adoption of a structured framework to prevent, detect and mitigate the criminal risks that may be generated within an organisation, in addition to other benefits that will be noted.
Obtaining the UNE 19601 certificate represents a strategic milestone for those companies that intend to consolidate their commitment to legality, transparency and business ethics. Therefore, the successful completion of the audit in accordance with this standard guarantees that the organization has implemented an effective Criminal Compliance Management System, aligned with the best business practices and in accordance with the applicable Spanish criminal legislation.
Traditionally, two (2) main reasons have been argued why organizations should devote efforts to the field of Compliance, and in particular, to obtain the UNE 19601 certification:
- Criminal risk mitigation: by implementing a Criminal Compliance Management System in accordance with the UNE 19601 standard, the company can demonstrate that it has taken reasonable measures to prevent the commission of crimes within it, which can exempt or mitigate its criminal liability.
- Improved corporate reputation: in a business environment that is progressively more competitive and regulated, the Criminal Compliance certification can highlight a company committed to regulatory compliance by differentiating it from others, thus reinforcing its credibility with stakeholders, especially for the Anglo-Saxon market given its sensitivity in terms of Compliance and, specifically, anti-corruption.
However, it is essential to bear in mind that the above reasons can coexist with other economic or business development aspirations, common to all organizations, among others:
- Competitive advantage in tenders: increasingly, in both the private and public sectors, the provision of Compliance certifications by companies is positively valued, even becoming a determining factor in obtaining contracts or tenders.
- Access to finance and capital: investors and financial institutions place increasing importance on the effective management of criminal and reputational risks. This is because certification demonstrates a strong commitment to transparency, which, in turn, can facilitate better credit terms, attract institutional investors, and improve the organization’s valuation in equity operations or mergers and acquisitions.
- Access to subsidies and state aid: nowadays, the successful passing of the audit in accordance with the UNE 19601 standard is already an essential requirement for obtaining some subsidies and state aid.
Now, what is the reason for this growing importance of certification according to the UNE 19601 standard? The answer is simple: this commitment to Compliance generates confidence in the financial markets, which see in these organizations a lower exposure to sanctions, litigation or reputational losses that could negatively affect their investments and business relationships.
It is therefore clear that obtaining such a certificate is not only good practice. In the same way that years ago companies committed to ethical and regulatory compliance were pioneers in the adoption of Compliance Management Systems, today the organizations that choose to undergo the UNE 19601 audit are the ones that are at the forefront in terms of Compliance, since it is an important competitive advantage for those that aspire to stand out in the current market.
The Compliance Department of Molins Defensa Penal is available to organizations that wish to adapt and accompany them in the process of certification, or recertification of UNE 19601 or other technical standards such as ISO 37001:2016 Anti-bribery management systems.