ISO 37001

 

The need for Anti-Bribery Management System

What is Anti-Bribery Management System

ISO 37001 is the ISO Standard for Anti-Bribery Management and is designed to help organizations implement an anti-bribery management system to prevent bribery related issues. The standard lists down a series of steps that an organization can implement in order to detect, prevent or address bribery concerns. ISO 37001:2016 is a framework with its set of requirements and guides in establishing, implementing, managing, reviewing and improving the anti-bribery management system. Your organization’s system can either be stand-alone or can be integrated into an overall management system.

What does ISO 37001:2016 address?

ISO 37001:2016 addresses the below concerns:

  •         Bribery among public, private and, or not-for-profit sectors
  •         Bribery within or by the organization
  •       Bribery by personnel in the organization or by behalf or for the company’s benefit
  •         Bribery by business associates within the organization acting on the organization's behalf or for their personal benefits
  •         Organizational bribery
  •         Bribery by the organization's personnel for organizational activities
  •         Bribery by the organization's business associates for the organizational activities
  •         Bribery either directly or indirectly; for instance, bribe offered either for or by a third party

ISO37001:2016, the anti-bribery management system, is applicable only for bribery. The standard does not specifically address fraud or other anti-trust offences, activities like money-laundering or other such undertakings that are related to corrupt practices.

The needs and requirements of the anti-bribery management system are generic and can be applicable for various organizations irrespective of the organizational of type, size or nature or if it is a private, public or non-profit based.

What is the need for ISO 37001:2016 in an organization?

Trust and conduct are very important factors in any organization. For an organization to get established and achieve great success, transparency is utmost necessary. Nothing could make an organization’s repute scale down but for bribery. Therefore, it is important for companies to implement and adopt ISO 37001:2016 anti-bribery management system standard.

This international standard helps companies to detect, avoid or to take certain bribery related issues seriously and resolve them. By adopting anti-bribery policy, the organizational activities and anti-bribery policies are overseen by an appointed person. The tasks involve training, assessing risks involved, diligence on projects, implementing controls on financial and commercial factors and establishing a standard procedure for reporting and investigation.

The international anti-bribery management standard ISO 37001 addresses one of the world’s most challenging issues and takes measures to wash out corruption.

What are the benefits of implementing ISO 37001 standard?

  •  Making the staff, management, customers and stake holders aware that your organization follows and adheres to a strict anti-bribery policy; so, anybody trying to violate shall be in scrutiny and face the charges.
  • Having the compliance to relevant legislation, the Bribery Act 2010
  • Collaborate with stakeholders to manage risk in the organization and supply chain
  • Having an anti-bribery policy ensures that suppliers, contractors or sub-contractors and agents are committed to anti-bribery best practices.
  • Helps the organization with the provision of evidence to courts that the organization has taken necessary initiatives and steps to prevent bribery and corruption in the office.

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