ISO 37001 is an international standard which helps companies in the establishment, implementation, review and improvement of their anti-bribery compliance program. The standard does not guarantee companies are not engaged in bribery-related practices, but helps by providing a management system framework with which they can structure their due diligence programs. The ISO 37001 standard aids companies in being proactive when combatting bribery-related activity in their operations by helping to prevent, detect and address instances of bribery in their supply chains, whether from the organization itself, the personnel within it, the business associates it engages with, or a third party.
Requirements Under ISO 37001
The requirements of ISO 37001 are standardized and applicable to a variety of companies, regardless of industry. In order to comply with the standard, companies must align to recognized best practices and satisfy several requirements such as:
- Demonstrated commitment from top management to create, review and maintain an anti-bribery policy
- Systematic, regular reviews of anti-bribery company policies
- Providing anti-bribery awareness and training to personnel and the supply chain
- Implement and maintain employment procedures requiring personnel to comply with the anti-bribery compliance plan and report suspicious activity
- Perform internal and supply chain due diligence, undertake risk-mitigation actions and audit internal staff and third party intermediaries
Anti-Bribery Anti-Corruption Compliance Solution
Assent Compliance offers a comprehensive anti-bribery and anti-corruption compliance solution that helps companies comply with standards such as ISO 37001. Assent aids companies in implementing the most challenging aspects of their compliance program, by offering comprehensive internal employee training, administering supply chain education programs and performing increasingly critical supply chain due diligence and data management. Product highlights include:
- Internal employee and supplier education through Assent’s Content Hub
- Supply chain due diligence management and data collection
- Documentation and policy review/creation
- Risk mitigation program support
- Performance measurement and monitoring
- …and more!