ISO 37001: The First International Anti-Bribery Management System Standard
Objectives
- Provide guidance for establishing, implementing, maintaining, and continually improving an anti-bribery management system
- Offer an effective system to prevent, detect, and address bribery risks
- Enable organizations applying the standard to avoid or reduce costs, risks, and damages associated with bribery, while enhancing trust and reliability in their business partners
- Provide a solution to identify and manage bribery, whether committed by the organization, its personnel, or on its behalf by a third party
Requirements
- Anti-bribery policy and procedures
- Leadership commitment, responsibility, and accountability
- Supervision and training of personnel
- Risk assessment and due diligence in projects
- Financial, procurement, commercial, and contractual controls
- Reporting, monitoring, control, and review
- Corrective action and continual improvement
Benefits
Provides assurance of security to owners (investors), top management, employees, customers, and other stakeholders, demonstrating to the outside world that the organization takes all rational measures to prevent corruption.
Any organization conducting business activities anywhere can adopt the anti-bribery standard. Third-party certification is possible as a requirement standard.
While ISO 37001 certification does not guarantee the absence of bribery, independent certification allows the organization to demonstrate that it has taken all necessary steps to prevent bribery, reduce associated costs, and protect its good business reputation.