The purpose of developing the ISO 37001 is to establish, implement, maintain and enhance an anti-bribery program that prevents, detects and addresses bribery risks in an organization or institution. ISO 37001 is an international standard which specifies the procedures which an organization should implement to assist it to prevent bribery, and identify and deal with any bribery which occurs. It requires organizations to implement these procedures on a reasonable and proportionate basis according to the type and size of the organization, and the nature and extent of bribery risks faced. It is applicable to small, medium and large organizations in the public and private sectors, and can be used in any country. It cannot provide absolute assurance that no bribery will occur, but it can help establish that the organization has implemented reasonable and proportionate anti-bribery procedures.
Benefits of ISO 37001
ISO 37001 drives best practice and helps organizations:
- Implementing a viable anti-bribery management program utilizing widely accepted controls and systems.
- Stakeholder assurance that the organization is actively pursuing internationally recognized and accepted processes to prevent bribery and corruption.
- Protection of the organization, its assets, shareholders, and directors from the effects of corruption.
- Provision of acceptable evidence to prosecutors or courts that the organization has taken reasonable steps to prevent bribery and corruption.
- Promotes confidence and trust.
- Avoid reputational damage.
- Avoid cost.
