ISO 37001:2016- Anti- Bribery Management System Consultancy

Anti- Bribery Management System (ABMS) – a framework for the systematic management -Prevent, detect and address bribery by adopting an anti-bribery policy, appointing a person to oversee anti-bribery compliance, training, risk assessments and due diligence on projects and business associates, implementing financial and commercial controls, and instituting reporting and investigation procedures. 
 

Bribery is one of the world’s most destructive and challenging issues. With over US$ 1 trillion paid in bribes each year*, the consequences are catastrophic, reducing quality of life, increasing poverty and eroding public trust.

Yet despite efforts on national and international levels to tackle bribery, it remains a significant issue. Recognizing this, ISO has developed a new standard to help organizations fight bribery and promote an ethical business culture. It is designed to help your organization implement an anti-bribery management system, or enhance the controls you currently have. It helps to reduce the risk of bribery occurring and can demonstrate to your stakeholders that you have put in place internationally recognized good-practice anti-bribery controls.

Whom is ISO 37001 Anti- Bribery Management System relevant to?

ISO 37001 is aimed to assist the process of implementation or enhancement of anti-bribery management or control systems. It requires the implementation of a series of measures such as adopting an anti-bribery policy, appointing someone to oversee compliance with that policy, vetting and training employees, undertaking risk assessments on projects and business associates, implementing financial and commercial controls, and instituting reporting and investigation procedures.

The new standard is designed for a broad application.  It covers bribery 

  • in all kinds of industries,
  • regardless of type, size and nature of the activity,
  • be it in the public, private or non-profit sector,
  • including bribery by and against an organization or its staff, and 
  • bribes paid or received through or by a third party.

ISO 37001 is designed in a way that allows to use it either as a standalone system or to integrate it into a pre-existing overall management system.

Benefits of ISO 37001:2016 - Anti- Bribery Management System

ISO 37001 is suitable for organisations of any size, operating in any industry. For organisations implementing the ISO 37001 standard, there are many benefits:

  • Reduced malpractice risks: implementing the measures of this standard reduces the risk of malpractice.
  • Reference: ISO 37001 can be used as a reference for the establishment or improvement of an anti-bribery management system.
  • Transparency: this standard serves as a tool to support transparency and keep stakeholders informed on its stand on bribery. Stakeholders may include the Board of Directors, personnel, business partners and investors.
  • Stakeholder assurance: ISO 37001 assures stakeholders that an organisation has taken the appropriate measures to prevent bribery.
  • Protection: ISO 37001 protects an organisation, its assets, shareholders and directors from the adverse effects of bribery and corruption.
  • Demonstrates compliance: implementing the standard offers organisations a way to demonstrate compliance with the applicable laws.
  • Easily integrated: ISO 37001 follows the same structure as ISO 9001, ISO 14001 and ISO 45001 and consequently it can be easily integrated into existing management systems.
  • Insurance: In the event of disputes, implementation and certification can be used as evidence of due diligence.
  • Serves as a benchmark: ISO 37001 can be used as a benchmark to evaluate the organisations’ position in relation to global best practices used by other organisations.

While ISO 37001 is not a sure guarantee that no bribery will take place within an organisation, it is a clear demonstration that the organisation has implemented adequate measures to detect and prevent bribery, making it a valuable investment for any business organisation

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