For any organization, be them in the private or public sector, and irrespective of its size, the awarding of ISO certification is seen as essential for the continuation and growth of their business. It is vital to demonstrate that systems, processes and services are in place, to meet standardization criteria and provide quality assurances. Credibility is a huge requirement for success and this independent recognition, which is internationally accepted, provides additional transparency and confidence for investors, stakeholders, clients and customers, into the trustworthiness of a potential partner/supplier.
These standards are being created all the time and one of the more recent additions is ISO 37001; which has been designed to be integrated into organizations with regards to anti-bribery risk management. Corruption and bribery is the number one source in undermining the reputation of a previously untarnished establishment. Therefore, any business in possession of documentation that corroborates their standing and reliability in their specific field of enterprise, has to be validation high up on its must have list.
ISO 37001 identifies a series of measures that a company can employ to assist in the detection of any sign of underhand activities, whether that be by the business itself, its personnel, or its outside associates. The adopting of anti-bribery procedures, would usually involve the appointment of an individual or individuals, to ensure compliance in matters relating to the addressing of financial controls, commercial awareness, project appointment, risk assessments, training of staff and comprehensive investigations.
The standard was introduced in October 2016 and defines expectations, together with offering guidance on the implementation of policy, to successfully prevent, or at the very least identify, any onset of bribery related actions. It was initiated by the British Standards Institute (BSI), but in actual fact almost 40 different countries were involved in its development, with additional expertise contributed by several liaison organizations.
Flexibility permits this standard to be used worldwide, with its chief focus on prompt identification and countermeasures of material violations. Due diligence is stressed at various points throughout the document, with numerous checks recommended, dictated by the size of the business involved. For a smaller enterprise for example, it is possible that a simple dual control principle could suffice, whereas larger bodies will require greater checking points. A lot of it involves the application of a risk-based approach.
An external auditor will undertake the assessment of worthiness for the granting of certification, and if rigorously applied, ISO 37001 can carry a company forward, avoiding difficult conversations, both internally and externally.