ISO 37001 ABMS certification: what to expect?

Even though the International organisation has developed it for standardisation, many are still wondering what to expect from implementing the ISO 37001:2016 Anti-Bribery Management System (ABMS) in their businesses. Questions that usually arise are related to whether this certification is enough to prevent bribery and corruption in organisations, whether it is a silver bullet or not. We often hear that businesses want to enjoy a great reputation among current and potential partners and customers or that serious business people want to collaborate with serious partners. That means seeking relationships with organisations and people who are reliable, honest, and crime-free.

ISO 37001 ABMS certification for honest, transparent businesses

If you are serious about doing business, you want to collaborate with such partners. You don’t want to work with dishonest business people; you want to be sought for cooperation only by other honest businesses, ideally certified. That is why it is of utmost importance to get ISO 370001 Anti-Bribery Management System certified. It will serve you to prove to your prospects that you stand against dishonest business practices and they can expect reliability from your side.

There is an ongoing debate, however, that this certification is not a silver bullet for preventing bribery in business. No law in the world could make a society or a business bulletproof to corruption. Hence standards are not silver bullets either. It is no secret that societies and businesses sometimes fail in preventing bribery and other forms of corruption. Nevertheless, they are responsible for taking all the possible measures to protect themselves against all these practices.

Among other things they could do is certify themselves according to ISO 37001 ABMS certification requirements. As you may know already, not every organisation can be certified. You have to prove that you meet certain standards to get certified. These standards include:

• Implementing internal anti-bribery controls
• The top management has an active role in the implementation and maintenance of the anti-bribery management system
• Measures to secure that everyone in the organisation understands the system and is prepared to execute his or her responsibilities concerning bribery prevention
• Adequate assessments of risks posed by counterparties
• The adequate response to violations related to bribery and corruption
• There are effective mechanisms for raising concerns about bribery issues, etc.

Having all these measures in place, you’ve already done a great job for your organisation. It will let you tackle bribery and corruption as much as possible.

However, no one will know that you’ve put all these procedures and practices in place. You’ll know yourself, but your prospects and partners won’t. This is where a third party certification comes in handy. Having independent and accredited external experts confirm that you don’t allow corrupt practices at your organisation will boost your reputation. It will send a message to others that you are a reliable business who is here to make a good impact on society, not just for lucrative reasons.

Internationally recognised standard

A very important fact to know about the ISO 37001 standard is that the International Organisation for Standardisation has developed it. It is an international standard-setting body that works in 162 countries. When ISO was developing this standard, 67 countries participated, and the ISO 37001 has been recognised and accepted globally. In practice, it’s an effective tool for proving an organisation’s dedication to fighting corruption internally and honestly doing business.

No doubt, getting an ISO 37001 ABMS certification by a third party will provide numerous advantages for your organisation. Reasons why you should get certified include, but are not limited to:

• An independent third party will confirm that you are compliant with anti-bribery regulations
• You are going to unite your company for a common goal – tackling bribery and corruption
• You send a message that you are a serious and reliable business partner who is in the business to make an impact and bring good to society, not just for lucrative reasons
• You’ll protect your organisation, its assets, shareholders and employees from the devastating effects of corruption
• A proof that your organisation has taken necessary steps for prevention of bribery and corruption on the organisational level

ABAC® can help you in getting an ISO 37001 ABMS certification and prove your compliance with anti-corruption laws. We, as an accredited certification body, will ensure that you meet the highest ethical standards in doing business.

Consider ISO 37001:2016 ABMS as one of the invaluable tools of your Third-Party Risk Management Strategy. Combined with due diligence, background screening, business intelligence and compliance solutions, ISO  37001 certification and training can lift your risk management process and help your business mitigate risks from third-party affiliations, protecting your organisation from liability, brand damage and harm to the business.

Provided with CRI Group, a global leader in risk management, due diligence and background screening solutions, 3PRM™ program is flexible and responsive to the various risk domains that are most important to your business. With a network of trained professionals positioned across five continents, CRI Group’s 3PRM™ services utilise one of the largest multi-national fraud investigation teams the industry has to offer.