ISO 37001 anti-Bribery Management Systems Standard
ISO 37001 is a new anti-bribery management systems standard developed by the International Organization for Standardization (ISO).
It specifies a series of practical measures which the organisation should implement to help the organisation prevent, detect and address bribery, and provides guidance in relation to their implementation.
These include adopting an anti-bribery policy, requiring top management leadership, appointing a person to oversee anti-bribery compliance, providing training to personnel, undertaking bribery risk assessments and due diligence “red-flagging” on projects and business associates, and implementing financial and commercial controls, and reporting and investigation procedures.
EIC urges Contracting Authorities to become certified
EIC, which in collaboration with FIEC has participated as an observer in the drafting process, urges Contracting Authorities to also adopt this new standard given that the requirements are intended to be applicable to all organisations regardless of type, size and nature of activity, and whether in the public, private or not for-profit sectors. Contracting Authorities become certified themselves and could also use this new tool in the prequalification process.
Anti-corruption guidance with focus on bribery
Whereas ISO 37001:2016 sets out necessary requirements and guidance for a management system that should regulatory anti-bribery compliance, the norm does not cover other corruption-related aspects such as fraud, cartels, money laundering or anti-trust offences. Nonetheless, the management mechanisms are flexible and can include, if required, additional features of anti-corruption prevention.