On October 14th, 2016, the International Organization for Standardization - ISO published the standard ISO 37001 - the Anti-Bribery Management Systems.
ISO 37001 is the first international standard for anti-bribery management system designed to help organizations combat the bribery risks in their operations and throughout their global value chains. According to the Brazilian Association of Technical Standards - ABNT, a founding member of the ISO, ISO 37001 has the potential to reduce risks and corporate costs related to bribery by providing a viable business structure to prevent, detect and treat bribery.
The standard is primarily designed to help organizations in their anti-bribery policies through a culture of integrity, transparency and compliance with applicable laws and regulations. The standard requirements are generic and can be applied to any organization or part of an organization, regardless of type, size and nature of its activity, whether public, private or non-profit sector.
ISO 37001 requirements are, among others, adopting an anti-bribery policy; management leadership, commitment and responsibility; defining the role and responsibilities of the anti-bribery compliance; personnel training; and risk assessments and due diligence on projects and business associates.
The implementation of the standard tends to improve the relationship of the companies with authorities, investors, shareholders, suppliers, employees and society as a whole, improving their reputation and image, as well as providing better management of the business risks.