What are the requirements of the ISO 37001 standard?
The ISO 37001 standard is an international anti-bribery management system (ABMS) standard. It specifies the requirements for an ABMS which allows an organization to:
- Prevent, detect and counter corruption
- Comply with applicable legal and regulatory requirements
- Continually improve the efficiency of the ABMS
The ISO 37001 standard is divided into 10 chapters (clauses). The 223 requirements are in chapters 4 to 10. The chapters cover the following areas:
1. Scope
The standard specifies the requirements for implementing, maintaining, and continually improving an anti-bribery management system (ABMS) within the context of the organization.
2. Normative references
The standard refers to numerous other international standards and guidelines that are relevant to anti-bribery management.
3. Terms and definitions
The standard defines the terms used in the context of anti-bribery management and the ABMS.
4. Context of the organization
The organization shall:
- Identify its external and internal issues that are relevant to its purpose and its strategic direction, and that affect its ability to achieve the intended outcomes of its anti-bribery management system
- Understand the needs and expectations of its stakeholders
- Determine the scope of its anti-bribery management system
- Establish and maintain its ABMS and processes concerned
- Undertake bribery risk assessment
5. Leadership
Top management shall:
- Demonstrate leadership and commitment to the anti-bribery management system
- Ensure that the anti-bribery policy is established and communicated throughout the organization
- Assign a person to an anti-bribery compliance function who shall have authority and responsibility for the development, implementation, and improvement of the anti-bribery management system
- Delegate decision-making
6. Planning
The organization shall:
- Establish anti-bribery objectives and processes related to risks and opportunities
- Plan actions to achieve these objectives
- Plan the changes
7. Support
The organization shall:
- Provide resources necessary to support the implementation and improvement of its anti-bribery management system
- Train, and provide the necessary competence to personnel
- Make aware the personnel
- Communicate relevant information within and outside the organization
- Control the ABMS documentation
8. Operation
The organization shall:
- Plan, implement and control its operational processes
- Undertake due diligence
- Implement:
- financial controls
- non-financial controls
- anti-bribery controls
- anti-bribery commitments
- procedures related to gifts and similar benefits
- Manage inadequacy of anti-bribery controls
- Encourage persons to report any raising concerns
- Investigate and deal with bribery
9. Performance evaluation
The organization shall:
- Monitor, measure, analyze, and evaluate the anti-bribery performance
- Conduct internal audits in order to evaluate the effectiveness of its anti-bribery management system
- Realize management reviews at planned interval
- Review the anti-bribery compliance function
10. Improvement
The organization shall:
- Identify and control nonconformities
- Take corrective actions
- Continually improve the anti-bribery management system
Organizations that can demonstrate compliance with these requirements can obtain ISO 37001 certification.
ISO 37001 certification provides numerous benefits to organizations, including:
- Reduced risk of bribery: ISO 37001 is a comprehensive framework for preventing and detecting bribery. By implementing an ABMS based on ISO 37001, organizations can reduce their risk of being involved in bribery scandals
- Enhanced reputation: ISO 37001 certification demonstrates to stakeholders that an organization is committed to ethical business practices. This can lead to improved reputation and customer trust
- Reduced risk of regulatory fines: Many countries have anti-bribery laws and regulations. ISO 37001 can help organizations comply with these laws and regulations. This can help organizations avoid costly fines
- Improved operational efficiency: An effective ABMS can help organizations improve their operational efficiency by reducing the risk of bribery and fraud
- Enhanced employee morale: Employees may feel more confident working for an organization that is committed to ethical business practices. This can lead to improved employee morale and productivity
- Increased market share: ISO 37001 certification can help organizations gain a competitive edge in the market. This can lead to increased market share and profitability
