Bribery Risks I: Why Consider the ISO 37001 Certification
Some corporations might wonder whether the ISO 37001 ABMS is a silver bullet to mitigate bribery risks. There is no regulation that can make corporations immune from bribery. However, corporations should take all possible measures to prevent it from occurring.
Having an Anti-Bribery Management System (ABMS) in place is a great move for mitigating this issue. However, having the system is not the same as implementing it. To ensure the mitigation efforts work effectively, a corporation should consistently adhere to the system during their day-to-day operations. Implementing the system also means that a corporation has the integrity to conduct good corporate governance (GCG).
What’s so important about being ABMS-certified?
Let’s say your corporation has implemented ABMS without being certified. Implementing ABMS is good to protect your business and its assets – employees, shareholders, brands, etc – as well as to maximize productivity. However, no one knows that you have implemented the system. While in business partnerships, it is critical to know and ensure that your prospective partners have the same integrity. How will you ensure and prove to your prospective partners that your corporation has the same integrity? This is where the certification comes in handy.
ISO 37001 certification serves as proof and assurance to prospective partners that your corporation has been taking standard measures to prevent bribery from occurring. The certification also shows how your corporation is in compliance with bribery laws, and therefore would help convince your prospective partners of your company’s is reliability in terms of conducting impactful business.
The certification process is not a list of ‘checkboxes’
ISO 37001 comprises of ten clauses to help your corporation’s build robust ABMS. The certification process itself is not a type of ‘checkbox’ review by auditors. There are a few stages that ensure that the applicants have put the system into action.
Not only will the auditors check the written policies, but they will also ask for documentation as evidence that the policies are put into action. In addition, they will also validate the evidence by conducting interviews with the people who are responsible for implementing the policies, such as Directors, managers, employees. Once corporations receive the certificates, the certification body will conduct annual reviews to ensure that the corporations remain in compliance with ISO 37001 standards.
How an ISO consultant will help your corporation
For corporations that have never dealt with any ISO certification and have to build and compile ABMS tools and its policies from scratch, the process of ISO 37001 can be very time-consuming, confusing and expensive. Therefore, corporations require the help of ISO consultants.
An ISO consultant is an expert that has extensive experience in ISO certification. The consultant serves as a guide for corporations to fulfill the requirements of ISO certification from A to Z in an efficient way. He/she will also serve as a trainer for employees, as implementing ABMS standards would inevitably require participation from all employees. Additionally, the role of ISO consultants does not end once the corporations obtain the certificates. He/she will review the implementation of ISO 37001 within the corporation and conduct internal audits while your corporation can focus on growing its businesses. At the end of the day, hiring ISO consultants will help your corporation reap its investments without delay.