THE INTERNATIONAL ANTI-BRIBERY STANDARD: ISO 37001:2016 AND ITS BENEFITS
The International Anti-Bribery Standard: ISO 37001:2016 and its Benefits
WHAT IS BRIBERY AND WHAT ARE ITS IMPLICATIONS?
The act of bribery is defined according to the RAE (Royal Spanish Academy) as the ”action and effect of bribing”. We, for the context in which we will enter, we will occupy the term that is inclined to give money or some kind of gift by an interested party to another in order to get something illegally.
Bribery is considered a threat to the laws of any country and to the development of a nation, since it implies the risk of reducing the economy, unbalances the balance of healthy competition, damages the image of an organization, as well as its image before investors, personnel and clients; in addition, it implies serious legal risks.
This is why the standard is so important worldwide. The ISO 37001 standard is intended to prevent bribery in your organization, and in case it occurs, you know how to detect it and treat it for its mitigation.
This standard was created based on the high-level structure so that it can be integrated with ISO standards and with the processes that may already exist in your company.
The new anti-bribery standard is applicable to all types of organizations regardless of size, location or line of business. With the implementation of an Anti-Bribery Management System you will have the necessary controls to prevent the practice of bribery and will make your organization more trustworthy.
Remember that illegal acts can have serious consequences for those involved.
WHAT IS THE BASIS FOR THE DEVELOPMENT OF THE ANTI-BRIBERY STANDARD?
To prevent bribery, a series of measures were developed to support your organization in implementing and maintaining an anti-bribery program, such as:
The establishment of an anti-bribery policy.
Appointing the team in charge of overseeing the system.
Proper due diligence with partners, personnel and in general with the projects and practices that are carried out.
Establishing good commercial and financial controls.
WHAT ARE THE BENEFITS OF CERTIFYING YOUR ANTI-BRIBERY MANAGEMENT SYSTEM?
The benefits you can obtain by certifying your system under ISO 37001 will help you to generate a great change of responsibility and business ethics that will have national and international repercussions. Here are the main benefits:
Protects the integrity of your organization.
Creates greater effectiveness in organizational policy.
Develops and improves anti-bribery processes.
Ensures that your organization adheres to the legal framework of your country and complies with the corresponding legislation.
Prevent risk inside and outside your organization, e.g. with your supply chain.
Best practices are constantly reinforced.
In the event of an act of bribery, you will have the necessary measures in place to deal with it.
The commitment and empathy of your employees will be developed to reduce the likelihood of bribery.
It is also important the training and attention given to your employees regarding anti-bribery and anti-corruption issues, since they go hand in hand, in order to clarify the reason for the implementation of your management system and the relevance of the role that each of them plays as part of your organization. It will also influence awareness of anti-bribery treatment.
ASPECTS ARE RELEVANT TO THE IMPLEMENTATION OF ISO 37001
In addition to those mentioned above, communication channels become a substantial part of the process of following the standard and of the good performance already in practice, so communication and reporting channels must be established, in addition to periodic evaluations.
Also, involving your staff in the establishment of the standard in the organization and the activities they perform, will achieve the goal you set for your system more quickly and efficiently; and at the same time, you will generate confidence in each employee to report a bribe or any action that is not attached to the guidelines.
At QAlliance we are confident that you will be able to achieve certification of your anti-bribery management system and comply with the requirements of ISO 37001. Contact us so we can provide you with guidance and personalized attention.