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 237 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 and anti-bribery culture
- 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
Companies can demonstrate their compliance with the requirements of the ISO 37001 standard and obtain ISO 37001 certification through the ISO 37001 online training package (readiness and audit).
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
