ISO 37001 is an internationally recognized standard that deals with implementing an anti-bribery management system within a company or organization. It establishes the framework that helps organizations operate their businesses and assess the internal anti-corruption processes and weaknesses. While this standard can be implemented in every type of business, it is especially beneficial to organizations where bribery is a known factor of risk.
Main Advantages of ISO 37001 Certification
Obtaining an ISO 37001 Certification means gaining credibility and protection for your organization, especially nowadays, when corruption scandals spread all around the globe. Dealing with a corruption scandal can really devastate the reputation of your organization, and it can seriously affect the flow of your work as well as profit. Losing credibility and reputation can often lead to the loss of loyal and prospective clients.
Therefore, becoming certified in ISO 37001 can give you access to a variety of advantages, which can greatly help your business:
- Improving the service of the organization and the product value,
- Enhancing credibility and competitiveness,
- Incorporating preventive measures and obtaining proof in case of bribery,
- Implementing an anti-bribery management system based on transparency and integrity in an effective way,
- Monitoring key challenges, controlling risks, and regulating costs related to bribery,
- Preventing negative impacts and consequences of bribery.
What is ISO 37001?
ISO 37001 is an internationally recognized standard that helps in establishing the framework for the anti-bribery management system. In addition, this standard aids in protecting the reputation of an organization and prevents the spread of corruption scandals. ISO 37001 represents a tool with which an organization or a company effectively manages the risks of bribery while maintaining customer trust and the quality of service and products.
The standard allows you to implement the best practices that will assure that your organization is maintaining anti-bribery controls, so the clients and the stakeholders will gain confidence in your operation. The ISO 37001 encompasses the following aspects:
- Anti-bribery policy,
- Commercial, financial, and contractual controls,
- Risk assessments,
- Due diligence on business associates and projects,
- Corrective action and consistent improvement,
- Monitoring, reporting, investigation, and review.
Benefits of Getting ISO 37001 Certification
In order to be able to provide protection of brand reputation, and to gain customer trust, an organization needs to manage and control the risks of bribery and corruption within the organization. The ISO 37001 allows you to implement the anti-bribery management system effectively, and ensure that all measures will be taken in case of corruption. While the standard cannot assure completely that bribery will not take place, it allows you to use practices that can help in case of bribery occurrence and spread of scandal.
Once you get certified, your organization gets to use the following benefits:
- Establishing controls across the whole organization and entire value chain,
- Meeting all necessary requirements in compliance with regulations and legislation,
- Establishing essential procedures to actively prevent bribery,
- Implementing standard measures that help in reducing bribery risks,
- Holding the certification as due diligence evidence that will serve in case of disputes,
- Enhancing brand reputation.
- Reducing intervention costs.
How to Become ISO 37001 Certified?
In order to obtain an ISO 37001 Certification, a company or organization must implement an anti-bribery management system (ABMS). The achievement of this certification is implemented through a comprehensive assessment that is done in multiple stages.
The ISO auditors need to determine that your organization has successfully implemented the anti-bribery management system while complying with all ISO requirements. Once your organization gets certified, you can use the ISO 37001 Certification in marketing and promotional materials.
Start Your Journey To ISO 37001 Certification
To start your journey to ISO 37001 Certification, you can contact us for a free quote. We will deliver a quote that is specifically made to meet your requirements, and we support various ISO standards.
What industries implement ISO 37001?
The ISO 37001 Certification is suitable for any kind of company and organization that has the necessity of controlling and managing risks of corruption and bribery. By getting certified, organizations want to show to their customers that they are responsible and that they work following all given practices. This certification means that the ISO 37001 is eligible to ensure that a particular company can implement anti-bribery practices, and follow the best measures that relate to controlling and handling bribery and corruption scandals.
How long does the ISO 37001 Certification last?
The ISO 37001 Certification lasts for three years, and it is regularly checked and audited every year to ensure that your organization is compliant with all regulations. Once the three years have passed, you will be required to do a recertification.
How do I implement ISO 37001?
ISO 37001 is a framework that includes the details and the requirements of the anti-bribery management system. The ABSM can be implemented by using an independent ISO expert or ISO consultant that will support you throughout the whole process.
The implementation of the ABSM system includes determining organizational goals, establishing anti-bribery requirements, and managing risks that will be monitored through the operations of your organization.