ISO37001: ANTI-BRIBERY MANAGEMENT SYSTEMS
Leveraging the first international standard for
anti-bribery good practice
anti-bribery good practice
The expectations and scrutiny around corporate anti-corruption compliance has just become sharper with the recent launch of ISO 37001, an international anti-bribery management systems standard which redefines minimum requirements and supporting guidance for anti-bribery good practice. With authorities continuing their pursuit of corruption-related misconduct amid an increasing number of investigations and scandals emerging especially in recent years, meeting regulators’ expectations continues to be a corporate-wide mandate whilst organisations navigate the challenge of managing risks inherent in their ever-expanding supply chains.
This page has been put together by the team at ethiXbase to provide guidance following a review of useful resources which can be found below and also provides information on how ethiXbase can help your organisation to satisfy ISO 37001 compliance requirements. Read on to understand how your organisation can look to ISO 37001 for guidance and start taking a proactive, disciplined and consistent approach to assessing and managing corruption risk and documenting compliance efforts.
ISO 37001: Status of adoption around the world
Singapore: Singapore adopts Singapore Standard ISO 37001 (SS ISO 37001) on April 12 2017. Learn more here.
Launched on October 14th 2016, ISO 37001 is an anti-bribery management systems standard designed to help an organisation establish, implement, maintain and improve their anti-bribery compliance program. It is an ISO-certifiable standard that organisations can choose to undertake, which includes a series of measures an organisation must implement that represents globally recognised anti-bribery good practice.
Driven by a risk-based approach, ISO 37001 can enable companies to make better informed decisions about business partners and third parties, by understanding the risks present in their value chains and proactively managing them.
Who can use ISO 37001?
ISO 37001 is a flexible tool that can be used by any organization, large or small, whether it be in the public, private or voluntary sector, and in any country. It can be adapted according to the size and nature of the organisation and the bribery risk it faces.
As an optional tool, certification under ISO 37001 does not serve to guarantee that no bribery has occurred or will not take place in relation to an organization, however compliance to the standard can demonstrate appropriate measures undertaken by an organization to prevent bribery.
How can your organisation work towards ISO 37001 compliance? Read this checklist which outlines some of the key measures required under ISO 37001.
Please visit the ISO website for guidance on all the measures required under ISO 37001.
Reporting and investigation procedures for suspected and actual bribery
Aimed at helping organisations leverage ISO 37001 for anti-corruption compliance and business success, ethiXbase offers the following solutions to assist organisations in their efforts to achieve goals under ISO 37001 measures. ethiXbase supports organisations, no matter their size or budget, to achieve effective compliance and manage third party risks through cost-effective due diligence, ongoing monitoring, ethics and compliance communications and anti-corruption training and education.
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RISK-BASED DUE DILIGENCE &
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ETHICS COMPLIANCE COMMUNICATIONS
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Assessment of bribery risk and conducting risk-based due diligence
ethiXbase offers cost effective and risk proportionate anti-corruption due diligence options that match an organisation’s corruption and third party risk exposure and business needs. Conduct free instant and ongoing due diligence on 100% of your third parties with the ethiXbase 2.0 Third Party Compliance platform and escalate higher risk third parties through market leading workflows as and when required.
Online due diligence including not only sanctions & enforcements but also politically exposed persons and adverse media related to specific risk areas such as corruption, financial crime, criminality, human rights, environmental crimes etc.
Monitoring, measurement, analysis and evaluation
ethiXbase 2.0 offers ongoing monitoring of third party risk beyond the onboarding stage, allowing you to save third parties for daily ongoing monitoring and reporting on third party compliance. Should a third parties risk profile change over time the system is also set up with inbuilt market leading escalation workflows to ensure any changes in a third parties risk profile are investigated and so you have the intelligence to review the impact on your business.
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Communicating anti-bribery programs and policies third parties
The ethiXbase 2.0 Third Party Compliance platform facilitates the communication of important compliance and policy information to your third parties along with regular ethics and anti-corruption content. Benefit from a full audit trail of communications sent, opened, and attested to.
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ethiXbase offers customisable ethics and anti-corruption training programs which can be tailored to your business needs, regardless of location, industry or language. Designed to train and certify employees, management and third parties on anti-corruption and compliance standards and laws, best practices and your organisation’s own codes and policies, organisations are also provided with a scalable model to track attendance, engagement, adaptation and results.
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The following is a list of reference material published by ISO on ISO 37001: