What best practices mean in terms of compliance and how they can be implemented in a company

So-called regulatory compliance programmes are an increasingly essential element for any organisation, above all since this area was regulated 5 years ago through its inclusion in the Criminal Code. However, despite the fact that we are in an age when the importance of compliance is growing exponentially, there are still many companies which do not know what best practices mean in terms of compliance and how to implement them within their organisation.

In order to foster a culture of compliance, the Elecnor Foundation, as an international endorser of compliance and a role model in the fight against corruption, joined forces with the IE Foundation at the end of 2019 to create the IE – Elecnor Observatory on Sustainable Compliance Cultures. An observatory which promotes research, information and knowledge concerning the correct implementation of compliance.

Through its work and studies, the Observatory provides society in general and the business world in particular - with a special focus on medium-sized companies - with tools to improve compliance management in organisations. In addition, it helps to promote compliance management that always takes into account ethical principles and the expectations of the different stakeholders on social and environmental issues. 

To achieve this mission, it has 4 main objectives: 

• To capture and develop knowledge
• To facilitate the implementation of a culture
• Disseminate knowledge
• Facilitating understanding

In 2018, Elecnor Group became the first Spanish company in its sector to be certified to the UNE-ISO 37001 standard for “Anti-bribery Management Systems” and a year later it was awarded certification for the UNE 19601 standard on “Criminal Compliance Management Systems”. These awards have, moreover, been renewed this year thanks to the firm commitment of Elecnor to the fight against corruption.