WHAT IS iso 37001 ?
An ISO 37001 was published in 2016 and is the international standard for Anti-bribery Management Systems. The standard is designed to assist organizations in implementing and maintaining specific measures which assist them in preventing, detecting and addressing bribery across the organization and its business activities.
This could include:
- Bribery activities conducted by the organization
- Bribery activities conducted against the organization
It’s the International standard that allows organizations of all types to 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.
WHY CHOOSE ISO 37001?
ISO 37001 can be used by any organization, large or small, whether it be in the public, private or voluntary sector, and in any country. It is a flexible tool, which can be adapted according to the size and nature of the organization and the bribery risk it faces. ISO 37001 must be adopted as it helps fight bribery, promotes business ethical culture and protects the company, assets, shareholders and directors from bribery.
It helps you with:
- Anti-bribery policy
- Anti-bribery compliance
- Risk Assessments
- Due diligence
- Prosecution protection
- Control mechanisms
- Reporting and investigation procedures
- Bribery of organizational personnel
- Effective Anti-bribery process
- Demonstrating Compliance to relevant legislation such as Bribery Act, 2010.
HOW MUCH DOES ISO 37001 COST?
The cost of certification depends on several factors. These include your business sector, type of organization, your scope of work, and your number of employees. Moreover, costs vary as per industry specific accreditation as well (such as from EGAC, EIAC, IAS, DAKKS, UKAS, JAS-ANZ or NABCB).
However, QA INTERNATIONAL SERVICES is committed to provide a cost-effective route to ISO 37001 certification. That’s why we focus on making ISO certification simple and straightforward. We save you money because we spend less time creating complex document trails and more time building a system that works for your business.
IMPLEMENTATION OF ISO 37001?
An organization is required to develop and implement an Anti-Bribery Management System that operates according to the standards outlined in the ISO 37001 itself to help in curbing bribery. That is not negotiable if you have to get the certification that is very beneficial to you.
In simpler terms, an organization is required to have the following best practices to be considered for ISO 37001 certification:
- Implement anti-bribery policy
- Show proper management leadership, commitment, and responsibility
- Regularly train all the personnel on compliance and have control over them
- Carry out risk assessment procedures according to the standards
- Have high integrity and transparency on matters of finances, contracts, and other commercial processes
- The reporting, monitoring, investigating, and reviewing should all be done independently according to well-laid-out procedures
- Outline corrective actions for all possible bribery cases and continual improvement of the system based on the cases identified.
BENEFITS OF ISO 37001?
Becoming certified to ISO 37001:2016 can provide many benefits, both for your organisation and your customers.
- Competitive advantage over other organisations
- Greater awareness on the output of bribery
- Enhanced aptitude for the prevention of corruption
- Expansion of business opportunities
- Continual improvement of services and products
- Enhancement of the organisation’s reputation
- Facilitation of efficient management operations
- Apt demonstration of legal compliance and assurance
- Reduction in structural and miscellaneous costs
- Escalation of organisational assets
- Better implementation of compliance programs
- Precise execution of significant measures
- Increase in business efficiency and effectivity
- Superior trust and transparency
- Reduction of malpractice and other hazards
- Protection of resources and other capitals
- Easy integration to existing management systems
- Appropriate utilisation as a due diligence evidence
- Accurate evaluation of organisation’s position
- Recognition and deterrence of immediate threats
- Placement of adequate procedures to combat risks
- Timely observation and development of controls
- Execution of feasible anti-bribery procedures
- Practice of internationally recognised processes
- Establishment of ethical global practices
