- Author: Joacim Vestvik-Lunde
- Keywords: Business Assurance
ISO 37001:2016, anti-bribery management systems, has the potential to reduce corporate risk and costs related to bribery by providing a manageable business framework for preventing, detecting and addressing bribery.
Many organizations have invested significant time and resources into developing internal systems and processes for preventing bribery. ISO 37001 is designed to support and broaden those efforts, while providing transparency and clarity on the measures and controls that organizations should be putting in place and how to implement them most effectively and efficiently.
ISO 37001 will help prevent, detect and deal with bribery, whether such bribery is by or on behalf of an organization or its employees or business associates. Using a series of related measures and controls, including supporting guidance, the anti-bribery management system specifies requirements for:
- An anti-bribery policy and procedures
- Top management leadership, commitment and responsibility
- Oversight by a compliance manager or function
- Anti-bribery training
- Risk assessments and due diligence on projects and business associates
- Financial, procurement, commercial and contractual controls
- Reporting, monitoring, investigation, and review
- Corrective action and continual improvement
Organizations may choose to be certified to ISO 37001 by accredited third parties, to confirm that their anti-bribery management system meets the standard’s criteria.