Advantages Of Implementing Iso 37001 Anti Bribery Management System

By Author: Smith
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Bribery raises to any giving, accepting advantage with any bribe in order to affect the decision, judgement of persons in charge of a duty. Any organization that is involved in bribery means that they have taken or gave something with the intention of inducing the recipient in some way favorable to the party providing the bribe. Until now, many acts, laws, legislations and policies have been established and applied in order to prevent corruption and bribery around the world; however, some of them were successfully applied and many others not. Bribery is becoming an important worry among individuals and different businesses. Thus, this is leading to the lack of confidence, trust, and transparency in both public and private sectors. ISO initiated the establishment of an Anti-bribery Management System that deals precisely with bribery risks.
ISO 37001 is an Anti-bribery Management system standard currently under development by the ISO. The purpose of developing this ISO 37001 standard is to establish, implement, maintain and improve an anti-bribery program that prevents, detects and addresses bribery risks in an organization. ...
... Moreover, ISO 37001 is considered to help organizations comply with anti-bribery laws. This international standard is only appropriate to bribery, as it sets requirements and supervision for the establishment of an anti-bribery management system in compliance with anti-bribery laws. Also, an Anti-bribery management system can stand alone or can be integrated with other management systems that are already applied in the organization.
In fact, an Anti-bribery Management System program is appropriate to be executed in any organization. Considering that the nature of an organization differs from one another, the ISO recognized the ISO 37001 standard in such a system that it can be suitable to different organizations and can be combined with different management systems. ISO 37001 addresses to bribery in the private or public sector, bribery by the organization, and by the personnel, it is reasonable to think that the ISO 37001 standard is appropriate to all types and sizes of the organizations.
Significantly, there are different reasons why an organization should implement, maintain and improve an Anti-bribery Management System. Organizations that wish to implement anti bribery management system will have the opportunity to:
Promote trust and confidence: Organizations that implement an anti-bribery management system are more probable to be reliable when it comes to cooperating with potential partners because the risk of bribery is lower. Organizations that have anti-bribery policies in place promote trust and are more probable to sign agreements with other organizations, rather than with any organizations that do not have anti-bribery policies in place. Moreover, individuals who are certified ISO 37001 Lead Implementers or ISO 37001 Lead Auditor Training are more reliable when it comes to helping organizations implement or perform audits on an Anti-Bribery Management System.
Implement the essential measures designed to prevent, detect and address bribery: Organizations that implement an anti-bribery management system according to ISO 37001 requirements will be able to implement the necessary measures to decrease bribery risk by preventing or detecting the risk before it negatively impacts the organization. Moreover, ISO 37001 standard, guides and delivers requirements for taking these measures based on the nature of the bribery risk that the organization might face.
Avoid reputational damage: By implementing an Anti-Bribery Management System based on ISO 37001 an organization will avoid reputational damage, which is a significance of being involved in bribery. Considering that organization reputation is very important for their durability, an effective anti-bribery management system will be helpful in avoiding reputational damage.
Avoid cost: Organizations that implement an ISO 37001 anti-bribery management system will save money by refusing to pay bribes and by not having to implement costly procedures.
when taking the proper measures designed to help the implementation of ISO 37001, the implementation of Anti-bribery policies will be much easier. Any organization that wants to get ISO 37001 certification shall follow the requirements and guidelines in order to implement policies that are applicable to them. These policies shall fulfil with Anti-bribery laws, prohibit bribery, comply with Anti Bribery Management System requirements, promise to constant improvement of ABMS, be documented and communicated within the organization. If the organization implements the essential measures of ISO 37001 as guided, it will be easier to efficiently manage bribery risks, prevent bribery risks and detect potential bribery risks.