ISO 37001:2016 (Anti Bribery MANAGEMENT SYSTEM)
A management system standard for preventing corruption called ISO 37001 was released in October 2016. It is intended to assist a company in establishing, putting into place, maintaining, and enhancing a compliance programme against bribery. It contains several controls and measures that are examples of best practises for combating bribery around the world.
ISO 37001 takes care of:
Bribery committed by the Organization or its employees/business partners while acting for the Organization's advantage Bribery committed by the Organization or its employees/business partners in connection with the Organization's operations
The legal definition of bribery differs from country to country. To assist users in understanding the Standard's aim and scope, the Standard provides clarification on what is meant by "bribery."
Being a Requirements Standard, ISO 37001 qualifies as an Independent Certification. To aid in the prevention, detection, and management of bribery, the Organization must put in place a number of measures and controls in a reasonable and similar manner.
This has to contain:- • Managements Leadership, Commitment and Responsibilities
- • Anti-Bribery Policy
- • Risk Assessments
- • Personnel Controls and Training
- • Corrective Action and Continual Improvement
- • Reporting, Monitoring, Investigation and Reviews
- • Due Diligence on Projects and Business Associates
- • Financial, Commercial and Contractual Controls
Benefits of ISO 37001:2016 - Anti Bribery Management System
- • Encourage confidence and trust- Because there is less chance of bribery, businesses that employ anti-bribery management systems are more likely to be dependable when working with potential partners. Organizations having anti-bribery measures in place encourage confidence and are more inclined to sign deals with other organisations than organisations without such policies. Additionally, those who have obtained certification as ISO 37001 Lead Implementers or Lead Auditors are more trustworthy when assisting firms with the implementation of an ABMS or while conducting audits on an ABMS.
- • Implement the required safeguards to stop, catch, and deal with bribery- Businesses that implement ABMS in accordance with ISO 37001 criteria will be able to take the required precautions to lower the risk of bribery by preventing or identifying the risk before it has a negative effect on the business. Additionally, the ISO 37001 standard provides guidelines and standards for these actions based on the type of bribery risk that the organisation might encounter.
