What is ISO 37001:2016 Anti-Bribery Management System?
The ISO 37001:2016 “Anti-bribery Management System” standard is intended to help organizations in their fight against corruption, creating an ethos of integrity, transparency, and conformity. Even though this standard cannot guarantee the eradication of bribery, it can assist in implementing effective measures for preventing it and dealing with it.
- Adopted in October 2016 by the International Organization for Standardization (ISO).
- ISO 37001 is the first international standard for anti-bribery management systems.
- It is designed to help an organization implement, maintain, review and improve its anti-bribery compliance program.
- It was drafted over three years with participation from 56 countries.
What is ISO 37001 Certification?
ISO 37001 Certification is designed to be a broad standard applicable to public, private, and nonprofit organizations. It can be applied to organizations of all sizes and in any industry worldwide. It is used to determine internal and external issues relevant to its purpose and implement measures and controls reasonable and proportionate according to the bribery risks. Anti-Bribery Management System specifies a series of measures that help organizations prevent, detect and address bribery.
- ISO 37001 Certification is the newest weapon in the anti-bribery arsenal designed to fight bribery.
- It is designed to help organizations combat bribery risk in their operations and throughout their global value chains.
- It can reduce corporate risk and costs related to bribery by providing a manageable business framework for preventing and addressing bribery.
What are the benefits of ISO 37001?
Bribery is one of the significant risks faced by all types of organizations, regardless of their size or nature of business, whether in the private or Public Sector. It often results in the loss of customers’ confidence and negative image and subsequently may lead to the closure of organizations.
ISO 37001 is designed to guide organizations to prevent, detect, and respond to bribery and comply with laws, regulations, and other voluntary commitments. There are numerous material and intangible benefits to pursuing certification to ISO 37001:2016. These include:
- Assuring outside stakeholders that the organization takes business ethics seriously and promotes a culture of honesty and trustworthiness.
- Provides a means to select reliable partners in regions or industries with a reputation (deserved or not) for bribery and corruption.
- It is certified to reach a high standard and meets best practices globally.
- Ensures the organization is implementing a viable anti-bribery management system.
- Excellent documentation of the program.
- Execution of risk assessment, due diligence, and training completed.
- Evidence of commitment to anti-bribery if ever investigated.
- It has the capacity to bypass some due diligence requirements for many organizations.
- Set expectations with third parties regarding preferred qualifications or eligibility requirements for new or existing business relationships.
- This can lead to overall cost reduction.
- Prevention of conflict of interest.
- It can be used as a resource for information in the event of an outside (governmental) investigation of an aligned bribery incident.
- Assures stakeholders that the organization has implemented processes to prevent bribery.
- It Protects the organization, its assets, shareholders, and directors from the effects of bribery.
- Provides acceptance evidence to prosecutors or courts that the organization has taken reasonable steps to prevent bribery and corruption.
What are ISO 37001 Certification Requirements?
The requirements of ISO 37001 are generic and intended to apply to all organizations. The primary requirements of ISO 37001 are:
- Risk Assessment.
- An anti-bribery policy, procedures, and controls.
- The governing body, top management leadership, commitment, responsibility, and senior-level oversight.
- Communication and Training.
- Due Diligence on projects and business associates.
- Investigation procedures.
- Monitoring and Review.
- Corrective action and continual improvement.
What is ISO 37001 Certification Process?
Just because you can’t see doesn’t mean it’s not there. Bribery remains a widespread issue. ISO 37001 is designed to help an organization implement and maintain a proactive Anti-Bribery System. The Implementation steps of ISO 37001 certification are:
ISO 37001 Certification in Pakistan
ISO 37001 Certification in Pakistan will enable organizations that have invested significant time and resources in developing internal systems and processes to prevent bribery, gain momentum, and broaden those efforts. Where controls such as separation of duties, cash management, signature controls, and other rigorous internal controls exist, the Standard will provide coherence by implementing such concepts as the process approach and risk management. It will be much easier to provide transparency and clarity on the measures and controls organizations should implement and how to implement them most effectively and efficiently.
While it does not explicitly address fraud cartels and other anti-trust/competition offenses, money laundering, or other activities related to corrupt practices, its framework enables the organization to incorporate such measures in the ABMS voluntarily. ISO 37001 Certification benefits organizations in Pakistan by providing:
- It provides minimum requirements and supporting guidance for implementing or benchmarking an anti-bribery management system.
- The Standard also assures management, investors, employees, customers, and other stakeholders that an organization takes reasonable steps to prevent bribery.
- The investigation shows that an organization has taken reasonable steps to prevent bribery.
- Amplify the trust and confidence of external stakeholders in your business.
- Assure Stakeholders that the business has an excellent working environment.
What is ISO 37001 Certification Cost?
Bribery is a risk that businesses can now control by adopting an anti-bribery-anti-corruption (ABAC) compliance program by implementing the guidelines of ISO 37001:2016.
For an organization, the cost of establishing an anti-bribery management system in compliance with ISO 37001:2016 is minimal compared to commercial and financial losses, including reputational damages, which are likely to be incurred by bribery risks.
Why Choose Us?
TUV Austria Bureau of Inspection & Certification adds value to its client’s businesses by identifying process and system enrichment opportunities for efficiency and acquiescence. All this is made possible by the availability of seasoned auditors who are highly qualified in their respective fields. The audit approach is premeditated to help organizations achieve their purposes by responding to continuous improvements. Here are the benefits you will accrue if you get yourself certified.
Customer Service: When you apply yourself to the standard, your customer satisfaction improves because your products will be more in tune with their needs. Consequently, you will see customers getting retained.
Market Share: When certified with the ISO 9001 Certification, you will see increased market share revenue through rapid response to business opportunities.
In Addition, to ISO 37001 service, we also offer a range of complimentary services:
- ISO 9001 – Quality Management System
- ISO 14001 – Environmental Management System
- ISO 45001 – Occupational Health & Safety Management System
- ISO 55001 – Asset Management — Management Systems Requirements
- ISO 27001 – Information Security Management System
- ISO 20000 – IT Service Management System
- ISO 22000 – Food Safety Management System
- HACCP – Food Safety Management System
- Halal Certification
- ISO 21001 – Educational Organizations Management System
- ISO 29990 – Learning Services Management System
- ISO 20121 – Sustainability Event Management System
- ISO 22301 – Business Continuity Management System
- ISO 28000 – Supply Chain Security Management System
- ISO 13485 – Quality Management Systems for Medical Devices
- ISO 39001 – Road Traffic Safety Management System
- ISO 31000 – Risk Management – Guidelines
- ISO 22716 – Good Manufacturing Practices for Cosmetics
What is an Anti-Bribery Management System?
An Anti-Bribery Management System (ABMS) is a set of measures, processes, and documentation to detect, prevent, and address bribery by the firm and its people.
Anti-Bribery Management Systems are:
- Custom-Built from an assessment of the bribery risk.
- For organizations of all sizes and complexity.
- Communicated and understood by all.
- Following applicable laws.
- Led by Senior Leadership’s example.
- Routinely tested for gaps and updated to reflect new realities.
Who needs ISO 37001?
The standard is flexible and can be adapted to a wide range of organizations, including:
- Large Organizations
- Small and Medium-Sized Enterprises
- Public and Private sector organizations
Organizations in any country can use the standard.
How can ISO 37001 benefit an organization?
ISO 37001 is a risk management tool assures stakeholders that an organization is taking reasonable steps to prevent, detect, and appropriately manage bribery risk.
What are Anti-Bribery and Corruption?
Corruption is a broader concept than bribery. In addition to bribery in the public and the private sectors, the United Nations Convention Against Corruption thus includes other offenses such as embezzlement, misappropriation or other diversions of property by a public official, trading in influence, abuse of functions, illicit enrichment, embezzlement of property in the private sector, laundering of the proceeds of crime, concealment, and obstruction of justice.