The Benefits of Anti-Bribery Standard ISO 37001:2016 for Organisations
Bribery is a serious offence, one which carries many adverse effects for the individuals and the organisations involved. ISO 37001: 2016 has been developed in reaction to the prevalence of bribes and seeks to address the risks associated with bribery. The standard aims to aid companies in establishing, implementing, maintaining and enhancing anti-bribery campaigns within organisations.
ISO 37001 is suitable for organisations of any size, operating in any industry. For organisations implementing the ISO 37001 standard, there are many benefits:
- Reduced malpractice risks: implementing the measures of this standard reduces the risk of malpractice.
- Reference: ISO 37001 can be used as a reference for the establishment or improvement of an anti-bribery management system.
- Transparency: this standard serves as a tool to support transparency and keep stakeholders informed on its stand on bribery. Stakeholders may include the Board of Directors, personnel, business partners and investors.
- Stakeholder assurance: ISO 37001 assures stakeholders that an organisation has taken the appropriate measures to prevent bribery.
- Protection: ISO 37001 protects an organisation, its assets, shareholders and directors from the adverse effects of bribery and corruption.
- Demonstrates compliance: implementing the standard offers organisations a way to demonstrate compliance with the applicable laws.
- Easily integrated: ISO 37001 follows the same structure as ISO 9001, ISO 14001 and ISO 45001 and consequently it can be easily integrated into existing management systems.
- Insurance: In the event of disputes, implementation and certification can be used as evidence of due diligence.
- Serves as a benchmark: ISO 37001 can be used as a benchmark to evaluate the organisations’ position in relation to global best practices used by other organisations.
While ISO 37001 is not a sure guarantee that no bribery will take place within an organisation, it is a clear demonstration that the organisation has implemented adequate measures to detect and prevent bribery, making it a valuable investment for any business organisation.
Contact DQS today to guide your organisation through the steps of ISO 37001 certification acquisition.