Anti-Bribery ISO 37001
With the advancements in the business and organization conditions over the previous years, finding a way to create a niche for your organization in the competitive business world has become more complicated. This has necessitated the need to develop and maintain a systematized framework to help manage risks, discover every opportunity, and enhance work performance. This will ensure the attainment of clear-cut goals that increase the value and betterment of your organization.
The primary building blocks for most organizations’ credibility is trust and transparency. There is nothing that undermines active equitable businesses and institutions more than bribery. This is why there is 1SO 37001. However, when it comes to implementing this standard, you can consider using your organization auditing experts to carry out the entire process to ensure the accuracy before certification. But in the case you do not have the right experts, you can consider outsourcing your auditors from Internal Auditing Pros. The real experts in the field.
ISO 37001 is the first international anti-bribery management system that allows all organizations of all types to detect, prevent, and address bribery in their own operations and throughout their global value chains. This is mainly done by adopting an anti-bribery policy, appointing personnel to oversee anti-bribery compliance, risk assessments, training, and due diligence on projects. This standard has the potential of corporate risk reduction and reduced costs related to bribery through the provision of manageable business frameworks.
By providing a globally recognized way of addressing the more destructive criminal activities, ISO 37001 helps address one of the world’s most challenging and destructive issues head-on. It also helps in the demonstration of an enthusiastic approach when it comes to stamping its corruption.
The good thing is that ISO 37001 can be used by any organization small or large, whether voluntary, private, and public, or in any country. This standard can be regarded as a flexible tool that can be adapted according to the nature and size of the organization and depending on the bribery risks it faces.
Benefits of Implementing ISO 37001 in an Organization
Significantly, there are various reasons why organizations need to implement, establishing, improving, and maintaining Anti-bribery management systems. Those organizations and businesses that wish to implement ISO 37001 can have the opportunity to:
Promote trust and confidence
Those organizations that implement anti-bribery management systems are usually reliable when it comes to cooperating with potential partners because the risk of bribery is lower. The organizations with these anti-bribery policies will promote trust, thus making them sign agreements it other companies compared to those that do not have the anti-bribery policies in place. More so, ISO 37001 lead auditors are more reliable, especially when it comes to helping organizations implement ABMS or performing audits.
Implement the necessary measures designed to prevent, detect and address briber
Those organizations that implement ABMS according to ISO 37001 necessities can apply the required actions needed to reduce the bribery risk by identifying and preventing the risks before they impact the organization negatively. Additionally, the ISO 37001 standard provides requirements and guides proper ways of taking these measures centering on the bribery risk nature that organizations face.
ISO 37001 can also be used as a benchmark
It can be used to evaluate where an organization stands relative to the best practices used by the other organizations globally. These standards bases on the agreement of several experts that come from various horizons. It has a reflection on practices advocated by the business community and civil society. Its use as a yardstick can be used internally by the organizations when evaluating their system or externally when evaluating its suppliers and other business partners.
It serves as a tool to inform the organization stakeholders, including its investors, business partners, personnel, Board of Directors, on its stand regarding bribery. By communicating on its anti-bribery policies, it aids organizations to differentiate themselves from competitors that have not employed an operational anti-bribery management system, therefore gaining a competitive advantage. These organizations gain an upper hand in their business as their brand becomes more reputable.
Implementing ISO 37001 is a way to demonstrate compliance with applicable law.
Although ISO 37001 is not definite evidence that there will not be any bribery occurrences within the organization domain, it is an indicator that the organization needs adequate measures of preventing and detecting bribery. An important factor when it comes to evaluating the organization's criminal liability if corruption does, however, happen.
This factor can be strengthened by implementing ISO 37001 that is certified by an independent third party. One of the non-quantifiable benefits of implementing the ISO 37001 is that it will help the organization know itself better and strengthen its culture, not just from the perspective of anti-bribery.
The ISO37001, 2016 standard plays a significant role in all business types from the small scale to the large scale all over the countries. And in this age of transparency, the fact is that no organization can manage to pay for the risk of bribery. Shareholders, personnel, business associates, and investors need to be assured that the management is taking every possible effort to ensure bribery of all levels is being prevented. Implementation of the ISO 37001 and certification through independent third parties could enable you to do this correctly.
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