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    What You Need to Know About ISO 37001:2016 – Anti-bribery Management System

    Mar 29, 2022 | Articles, Blogs, Other articles

    Transparency and trust are the pillars upon which any organisation’s credibility is built. Bribery undermines effective institutions and equitable business more than anything else, which is why ISO 37001:2016 exists. ISO 37001:2016 confronts one of the world’s most prevalent and difficult issues, demonstrating a committed approach on the part of an organisation to eradicating corruption.

    ISO 37001:2016 is an International Anti-Bribery Standard. This Management System intends to assist organisations to implement and maintain specific measures that aid in the prevention, detection, and resolution of bribery across an organisation and its business activities. Adopting an anti-bribery policy, appointing someone to oversee anti-bribery compliance, training, risk assessments, due diligence on projects and business associates, implementing financial and commercial controls, and instituting reporting and investigation procedures are all ways to accomplish this.

    No organisation can afford to take the risk of bribery lightly. Investors, business associates, employees, and shareholders must all be assured that management has taken every precaution to prevent bribery at all levels of the organisation. Implementing ISO 37001:2016 and obtaining certification from an independent third party will allow you to do that.

    The ISO 37001:2016 Standard is intended to assist organisations to establish and maintain a proactive anti-bribery system. The standard, which replaced British Standard 10500:2011, includes several requirements that are globally recognised as good anti-bribery practices. The standard applies to all types of organisations.

     

    Who Is ISO 37001:2016 for?

    ISO 37001:2016 can be used by any organisation, large or small, public, private, or non-profit, and in any country. It is a versatile standard that can be tailored to the size and nature of the organisation, as well as the bribery risks it faces. It can easily be integrated into an existing Management System such as ISO 9001:2015, ISO 22301:2019, ISO 27001:2013, or ISO 44001:2017, using the Annex SL common structure. It consists of a set of anti-bribery measures and controls that represent global anti-bribery best practices. This includes:

    • Anti-bribery policies
    • Anti-bribery compliance
    • Risk assessments
    • Due diligence
    • Prosecution protection
    • Control mechanisms
    • Reporting and investigation procedures
    • Bribery of organisational personnel
    • Effective anti-bribery processes
    • Demonstrating compliance to relevant legislation such as the Bribery Act 2010

    Training is also necessary in addition to certification. ISO 37001:2016 awareness training teaches the fundamentals of implementing and managing an Anti-Bribery Management System (ABMS). The training provides an understanding of the various aspects of an ABMS, such as policies, procedures, performance measurements, management commitment, internal auditing, management reviews, and continuous improvement.

    The benefits of a certified ISO 37001:2016 Anti-bribery Management System

    ISO 37001:2016 certification enables you to protect and preserve the integrity of your organisation by:

    • Allowing external scrutiny of the effectiveness of your anti-bribery policies and processes.
    • Compliance with relevant legislation such as the Prevention and Combating of Corrupt Activities Act 12 of 2004.
    • Working with stakeholders to monitor and manage risk across your organisation and supply chain.
    • Ensuring that suppliers, subcontractors, and agents adhere to anti-bribery best practices.
    • Specifying minimum requirements as well as supporting guidance for putting in place an anti-bribery management system.
    • Assuring management, investors, business associates, personnel, and other stakeholders that an organisation has taken appropriate anti-bribery measures.
    • Putting the standard’s measures into action, lowering the risk of malpractice.
    • Proving diligence in the event of a dispute.
    • Allowing for the identification of areas for improvement while making suggestions to improve the effectiveness of an anti-bribery system.

    The ISO 37001:2016 Standard is structured similarly to ISO 9001:2015, ISO 14001:2015, and ISO 45001:2018 and can be easily integrated into existing management systems.

    Conformity to international standards has several advantages, such as facilitating international trade, improving the environment, and reassuring consumers. ISO 37001:2016 certification is an important credential that can increase customer and investor trust in the organisation’s integrity and credibility. Bribery and corruption pose serious risks to all types of businesses around the world and have eroded public trust in responsible organisations. As a result, demonstrating anti-bribery efforts to control bribery and corruption risks is critical to safeguarding an organisation’s reputation and brand value. When used to reduce the risk of illegal behaviour and demonstrate an organisation’s commitment to ethical practices, compliance with the ISO 37001:2016 Standard can be a key market differentiator.

    WWISE can help. For more information on ISO 37001:2016 contact WWISE today on 08610 99473 or admin@wwise.co.za

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