Anti-Bribery Management System to Achieve Corporate Resiliency
Resiliency is achievable and should be a goal for every corporation. One of the ways to achieve this is by implementing Anti-Bribery Management System.
The ugly reality that every corporate should face is that fraud cannot be one hundred percent eliminated. There is always a risk for fraud to occur. However, there is also the opportunity to deter individuals from committing fraud. To do that, corporations should build and strengthen their resiliency to face these risks. Resiliency is the key that will prevent and reduce the impact of fraud to the corporation.
In a book titled Corporate Resiliency: Managing Fraud and Corruption, resiliency is described as the quality of returning to form following stress. With respect to fraud and corruption, resiliency means a combination of avoiding issues through appropriate planning and risk management, reducing vulnerabilities such as by using early warning systems, and limiting impact by establishing processes that help effect a quick return to business.
Anti-bribery management system as a tool
ISO 37001, which is also known as the Anti-Bribery Management System (ABMS), was created to establish a corporate framework to prevent, detect and investigate cases of bribery and corruption. It can be implemented by any organization, large or small, whether it is in the public, private or voluntary sector, and in any country. It is a flexible tool, which can be adapted according to the size and nature of the organization and the bribery risk it faces.
The Anti-Bribery management system specifies requirements which in nature are used to build corporate resiliency. The requirements are:
- An anti-bribery policy and procedures
- Top management leadership, commitment and responsibility
- Oversight by a compliance manager or function
- Anti-bribery training
- Risk assessments and due diligence on projects and business associates
- Financial, procurement, commercial and contractual controls
- Reporting, monitoring, investigation, and review
- Corrective action and continual improvement
Training and consultation of Anti-Bribery management system
ABMS implementation and certification could be extremely time-consuming, confusing and expensive for your company. In order to follow the process efficiently and successfully obtain the certification, your company requires the relevant training and consultations.
Integrity Indonesia provides tailored training and consultations to accompany our clients through the setting up and implementation of the ABMS. We will follow the four stages of Plan / Do / Check / Act methodologies to help you set up and implement the ABMS system. Contact us for more detailed information regarding how ABMS Solutions can help you.