The ISO 37001 standard for anti-corruption management systems has been in existence since October 2016 and is recognized by 37 nations globally. The standard outlines the specifications for an anti-corruption management system, offers instructions for setting up, putting into practice, and maintaining the system, as well as containing mechanisms for review and development. In addition to small and medium-sized businesses, international corporations, foundations, organizations, and governmental agencies can also use ISO 37001. The standard is based on current regulations and laws aimed at preventing corruption, like the British Anti-Bribery Act.
By eliminating corruption, the ISO 37001:2017 standard contributes to the strengthening of society. The implementation of an anti-bribery system is a first step for all business owners who want to contribute to this challenge but are unsure of how. ISO 37001 can be easily integrated with other management systems standards including ISO 9001:2015, ISO 14001:2015, and ISO 45001. This is because ISO 37001 contains the Annex SL, the common template for all new editions of ISO Standards. Let's go over the main features of the standard.
Understanding the organization and its context: The organization's context, including its practices, ISO 37001 manual, policies, procedures, and the impact that bribery has on business, should be taken into account and evaluated in ISO 37001, as it should be in other management regulations that convey the same idea of organizational context.
Risk assessment of bribery: According to the Standard, a risk assessment of bribery should be used in the management system to identify, appraise, and put controls in place for such risks. An organization might, for instance, deal directly with a public agent, which raises the level of risk. This needs to be assessed and managed within the management system.
Anti-bribery policy: According to ISO 37001, an anti-bribery policy must be created, carried out, kept up to date, and critically evaluated. The policy's primary components include, among others, a commitment to support the expression of bribery-related concerns as well as the prohibition of bribery and compliance with applicable laws.
Anti-bribery compliance function: The management system should be under the control of the anti-bribery compliance function, which will also provide instructions on bribery-related matters and report to top management on the effectiveness of anti-bribery procedures.
Due diligence: The due diligence tool, which the Standard describes as a "process to further assess the nature and extent of bribery risks and to help organizations make decisions regarding transactions, projects, activities, business partners, and specific personnel," is also relevant. The definition states that this technique is utilized when more than one bribery risk is found in particular processes, such as transactions, projects, interactions with business partners, etc.
Anti-bribery Controls: Implementing anti-bribery controls should take into account the organization's context, risk assessment, partnerships with clients, and other factors. The organization should implement these procedures to reduce the danger of bribery and, in particular, to stop bribery in organizational procedures and practices.
What are the benefits of ISO 37001 Certification?
An effective anti-bribery program must be applied and maintained to receive the ISO 37001 ABMS certification. The ISO 37001 certification for the anti-bribery system offers several advantages because it is an extensive standard that is integrated with various management systems:
- Competitive advantage over rival companies
- A greater understanding of the outcomes of bribery
- Improved ability to avoid corruption
- Increased business opportunities
- Constant enhancement of goods and services
- improvement of the organization's reputation
- Facilitation of well-organized management operations
- Appropriate proof of legal compliance and assurance
- Cost savings in structural and non-structural areas
- Growth of organizational assets
- Improved implementation of compliance programs
- Precise execution of significant measures
- Rise in business efficiency and effectivity
- More trust and transparency
