What is ISO 37001?

Bribery is one of the world’s most destructive and challenging issues. With over US$ 1 trillion paid in bribes each year, the consequences are catastrophic, reducing quality of life, increasing poverty and eroding public trust. Yet despite efforts on national and international levels to tackle bribery, it remains a significant issue. Recognizing this, ISO has developed a new standard to help organizations fight bribery and promote an ethical business culture. It is designed to help your organization implement an anti-bribery management system, or enhance the controls you currently have. It helps to reduce the risk of bribery occurring and can demonstrate to your stakeholders that you have put in place internationally recognized good-practice anti-bribery controls.

Who is ISO 37001 for?

ISO 37001 can be used by any organization, large or small, whether it be in the public, private or voluntary sector, and in any country. It is a flexible tool, which can be adapted according to the size and nature of the organization and the bribery risk it faces. 

Why ISO 37001? 

Doing international business can be like navigating a gator-infested swamp. Real pitfalls can lurk anywhere in the business cycle. Potential liability can result from the actions of agents, business partners, family, or well-meaning friends. ISO 37001 offers tools to help protect against hazards while providing competitive advantages to help grow markets and revenues.

• ISO 37001 adoption by the private sector (internally and through the supply chain) and the public sector (in procurement) will reduce bribery risk and lower costs.
• ISO 37001 certification can provide an effective way for companies to monitor and verify the anti-bribery activities of their suppliers.
• ISO 37001 includes a number of internal business management processes that can lead to compliance stream-lining and cost-cutting.
• In a bid process, being ISO 37001 compliant is competitive advantage over those who are not.

Three Reasons to Seek Certification

1. The ISO standard provides your company with practical guidance: The standard helps you put theory into practice. As an operational document, it outlines practical guidelines on how to enhance your compliance program, such as establishing financial and non-financial controls, tailoring your compliance training to the specific risks your company faces and targeting the right employee groups with the right type of training, etc.
2. Adhering to the ISO requirements provides you with a powerful defense: In the event of misconduct or a compliance breach, you can prove that you have already established robust documentation procedures, and you can document the thoroughness of your anti-bribery program. The certification indicates that you are actively involving all parts of the organization in an overall compliance effort, from top management and the governing body to the compliance department. More importantly, it shows that top management are overseeing adequate implementation of the organization’s anti-bribery system management.
3. ISO certification greatly enhances your reputation as an ethical business: While the ISO doesn’t have any prosecutorial authority, achieving the certification gives your company an enviable image of trustworthiness. Adhering to the standard demonstrates your commitment to ethical business and to fighting corruption. You’re making it clear that your organization — including any employee or third party doing business for you or with you — does not tolerate corrupt practices.
    

The ISO 37001 is a global standard for business, outlining the elements expected of a good compliance program. Certification is voluntary, and renewed every three years. During this certification period, a company must undergo an annual surveillance review. The certification, however, is not the goal; the point is to achieve an effective anti-bribery program. While getting an ISO certification may not be an end in itself, it does come with several important benefits for your organization.

ISO 37001 Requirments

ISO 37001 specifies requirements and provides guidance for establishing, implementing, maintaining, reviewing and improving an anti-bribery management system. The system can be stand-alone or can be integrated into an overall management system. ISO 37001:2016 addresses the following in relation to the organization's activities:

• bribery in the public, private and not-for-profit sectors.
• bribery by the organization.
• bribery by the organization's personnel acting on the organization's behalf or for its benefit.
• bribery by the organization's business associates acting on the organization's behalf or for its benefit.
• bribery of the organization.
• bribery of the organization's personnel in relation to the organization's activities.
• bribery of the organization's business associates in relation to the organization's activities.
• direct and indirect bribery (e.g. a bribe offered or accepted through or by a third party).

ISO 37001 is applicable only to bribery. It sets out requirements and provides guidance for a management system designed to help an organization to prevent, detect and respond to bribery and comply with anti-bribery laws and voluntary commitments applicable to its activities.

ISO 37001 does not specifically address fraud, cartels and other anti-trust/competition offences, money-laundering or other activities related to corrupt practices, although an organization can choose to extend the scope of the management system to include such activities.

ISO 37001 Consultation in Jordan

If you are looking for ISO 37001 consultation in Jordan, you are at the right place! AAC MENA is one of the best providers to obtain the ISO 37001 certificate for your industry in Jordan at an affordable price. AAC MENA is known for ensuring customer satisfaction and business improvement.

Conclusion

As a leader in consultation services, AAC MENA offers unrivaled experience and expertise in ISO 37001 requirements. Our presence in the Middle East and harmonized approach give you access to the largest independent network of consultants and advisory services in the region.

To discuss your ISO 37001 requirements, contact us today.