Following the disastrous wreckage of the oil tanker Prestige, angry questions have been raised about who should take responsibilities. The International Safety Management (ISM) Code was implemented in July 1998 to ensure safety and accountability in the maritime industry and it was hoped that certification and careful auditing would keep standards high. The ISM code was introduced when statistics confirmed that around one third of the world fleet and owners/operators of ships were substandard. The objective of the ISM code was to ensure 'the safe operation of ships and prevention of pollution' but since the ISM code deadline on 1 July 1998 this objective has begun to lose its impact. Unfortunately, some companies who have always approached ISM with the right attitude have paid an unfair price for maintaining standards in a highly competitive world and the system has not supported them, so some of these companies are no longer with us. Auditing in the maritime industry is a new skill that is special and requires proper training. The code allows the company to design their own management system to meet the requirements of the code. For shipowners who have implemented the ISM code it appears that the hard work and expense is paying off. But the ISM code is likely to have legal consequences in one or more of the following areas: compliance with the laws of the flags, evidence of the vessel's seaworthiness, compliance with contractual obligations, failure to comply with the ISM code may impact on the possible criminal liability of master, shipowners, operators or managers, compliance to the extent of an owner's exercise of due diligence. Due to the current state of the world's fleet and lack of traditional training for merchant navy officers, those with certificates lack practical experience. And besides the independent state of the auditors is not really guaranteed.