By: Leslie A. Benton and Worth D. MacMurray
Leslie A. Benton is the Vice President of Advocacy and Stakeholder Engagement of the Center for Responsible Enterprise And Trade (CREATe.org).
A noteworthy new business tool designed to fight bribery is nearing completion: the ISO 37001 – Anti- bribery management systems standard. Designed by businesses and other stakeholders from around the globe, this standard, when it is formally adopted by the International Organization for Standardization (ISO), has the potential to reduce corporate risk and costs related to bribery by providing a manageable business framework for preventing, detecting and addressing bribery.
ISO 37001 is being developed as a “requirements standard.” As such, companies will be able to obtain certification from accredited third parties that their anti- bribery management systems meet the standard’s criteria. As happened with the ISO 9001 – Quality management systems standard, many businesses will likely place a high value on ISO 37001 certification, and may look for their value chain participants to do the same.
The standard builds on guidance from various organizations, such as the International Chamber of Commerce, the Organization for Economic Cooperation and Development, Transparency International and various governments representing a global consensus on anti-bribery leading practices. It is intended to apply to organizations of all sizes, wherever they may do business.
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Leslie A. Benton is Vice President of Advocacy and Stakeholder Engagement of the Center for Responsible Enterprise And Trade (CREATe.org), a non- governmental organization dedicated to helping companies prevent corruption and protect intellectual property. Ms. Benton previously led the anti-corruption and compliance communications practice at Levick Strategic Communications and was the Senior Policy Director for the US chapter of Transparency International.
Worth D. MacMurray is the former Senior Vice President, General Counsel & Chief Compliance Officer of GAN Integrity Inc. in McLean, Virginia. Previously, he consulted on anti-corruption and cyber governance matters at PwC and served as general counsel and chief compliance officer of several technology sector public companies.