International Standard ISO 37001: Anti-Bribery Management Systems

Author:Mr Pedro Espelta, Gustavo L. Morales Oliver and Maria del Rocio Beccar Varela
Profession:Marval O'Farrell & Mairal

The ISO 37001 standard on "Anti-bribery Management Systems" was published on October 15, 2016. This new management standard enjoys international recognition and will allow standardizing and simplifying anti-bribery compliance audits while, at the same time, companies and government agencies will be able to certify said processes by independent professionals.

For 4 years, experts from 37 countries participated in the development of a standard that enables organizations to have effective rules and procedures to prevent, detect and address bribery.

The result of this work is the ISO 37001 regarding "Anti-Bribery Management Systems" (the "Standard") published on October 15, 2016 by the International Standard Organization (ISO).

The Standard may be used by any kind of organization, regardless of their activity and size, in any country in the world, both in the private and public sectors.

Among other benefits, it is expected that the adoption of the Standard enables companies to simplify their anti-corruption due diligence processes, speeding up businesses and the work of compliance officers. In this connection, those contracting with a company that is ISO 37001 certified will know the minimum standards that such company applies to its anti-bribery management system.

Additionally, the adoption of the Standard ISO 37001 and its certification by independent professionals may be an important element to consider that a company has an adequate compliance program under the terms set forth in the recent bill regarding corporate criminal liability for certain corruption cases presented to Congress on October 20, 2016.

Among other aspects, the Standard...

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