• Governance I Risk I Compliance Management

How to fight bribery and corruption?

Bribery and corruption are a dent in the image of any company. It is an unwanted and unsightly reflection that can be mitigated and prevented in the organisation. The negative representation might result in a loss of trust among customers, affiliates and business patrons. In addition, the lack of internal anti-bribery controls and procedures has been one of the key reasons for the deficiency in productivity inside global organisations.

A strong standard is needed to combat these adverse effects where governance, risk management, and compliance (GRC) procedures are at the heart of the system. ISO launched ISO 37001:2016 ABMS standard – a global benchmark in the Anti-Bribery Management System (ABMS) which detects, protects and addresses the issues of bribery and corruption in the corporation. It is an assurance of employing the highest ethical standards and harnessing transparency even in the most complex business activities.

What is ISO 37001:2016 ABMS certification?

ISO 37001:2016 ABMS certification demonstrates the organisation’s commitment to upholding the best practices in the corporate world. Being a framework that measures, identifies, and controls the level of transparent commercial performance combined with international guidelines, it is applicable for organisations of all kinds, sizes, and natures. By adopting the ISO 37001:2016 ABMS certification, companies, subsidiaries, and other affiliates can shield themselves from the dent that can tarnish their reputation and decrease their proficiency in the industry.

By implementing ISO 37001:2016 certification, your organisation can cultivate a better anti-bribery and ethics culture and trust within the establishment. By adopting the ISO 37001:2016 certification, organisations will combine the GRC strategies with the ISO system across all departmental units transparently and operatively. Built with a set of globally accepted requirements, the ISO 37001:2016 certification is compliant with global, regional, and local anti-bribery regulations worldwide, increasing the association’s multi-level integrity.

What are the benefits of ISO 37001:2016 ABMS Certification?

ISO 37001:2016 ABMS certification includes audit assessment procedures to utilise the application and maintenance of a robust anti-bribery program. Being an all-encompassing standard that is integrated with other management systems, the ISO 37001:2016 ABMS certification provides several benefits:

  1. Competitive advantage over other organisations
  2. Greater awareness on the output of bribery
  3. Enhanced aptitude for the prevention of corruption
  4. Expansion of business opportunities
  5. Continual improvement of services and products
  6. Enhancement of the organisation’s reputation
  7. Facilitation of efficient management operations
  8. Apt demonstration of legal compliance and assurance
  9. Reduction in structural and miscellaneous costs
  10. Escalation of organisational assets
  11. Better implementation of compliance programs
  12. Precise execution of significant measures
  13. Increase in business efficiency and effectivity
  14. Superior trust and transparency
  15. Reduction of malpractice and other hazards
  16. Protection of resources and other capitals
  17. Easy integration to existing management systems
  18. Appropriate utilisation as a due diligence evidence
  19. Accurate evaluation of organisation’s position
  20. Recognition and deterrence of immediate threats
  21. Placement of adequate procedures to combat risks
  22. Timely observation and development of controls
  23. Execution of feasible anti-bribery procedures
  24. Practise internationally recognised processes
  25. Establishment of global ethical practices

How can your organisation attain ISO 37001: 2016 ABMS certification?

With the list of returns that ISO 37001:2016 ABMS certification holds, its value is undeniable. The cost and benefits of not adopting a viable Anti-Bribery Management System are far greater than the cost of its implementation. By engaging with a qualified, trained and independent third-party certification body, your company is securing its future against losses and gaining a surplus of rewards. Dedicate your time, energy and capital towards your organisation’s growth and progress.

The Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence is looking forward to connecting with you and steering your organisation towards the espousal of ISO 37001:2016 ABMS certification. Provide your company with the credibility to go beyond and reach its envisioned destination. For more information, please feel free to contact our team and visit our website www.ABACgroup.com.