The International Organization for Standardization (ISO) has recently entered the fray by establishing an ISO certification standard 37001 specifically addressing anti-bribery in corporations by providing a structure for organizations to assist them in the implementation or management of anti-bribery managements systems. So what is ISO 37001? Simply put, it is an international standard for anti-bribery management systems. The beauty of ISO 37001 is the global acceptance of the standard for anti-corruption compliance.
Obviously an anti-bribery system is to prevent bribes from being given or offered by corporate individuals representing business interests of the organization. As with all ISO certification standards there are specific elements that must be met by the organization in order to be certified. The system is set up that there is a consistent review of the system in order to ensure compliance and continual improvement.
While national laws may differ regarding anti-corruption compliance, the idea, as with any standard, is to provide a common ground where all global branches of an organization, no matter the location, have the same basis for compliance. Keep in mind that ISO 37001 only addresses bribery. Other white collar compliance issues such as fraud, ant-trust offences and other types of corrupt practices activities are not within the scope of this standard.