UKAS Accredits ABAC’s Capabilities

ABAC Center of Excellence Limited announced that the United Kingdom Accreditation Service (UKAS) has accredited ABAC’s Anti-Bribery Certification services for administering the ISO 37001:2016 Anti-Bribery Management Systems standard.

ABAC Center of Excellence Limited provides ISO 37001:2016 anti-bribery management systems certification for organisations that implement prescribed measures to prevent, detect and address bribery. Pursuant to this, UKAS accredited ABAC Center of Excellence Limited in the UK, Malaysia and Dubai for ISO 37001:2016 Anti-Bribery Management Systems (ABMS) certification in accordance with ISO/IEC 17021-1: 2015 conformity assessment requirements for bodies providing audit and certification of management systems.

“Congratulations to everyone at ABAC Center of Excellence on achieving accreditation for certifying anti-bribery management systems. Gaining this accreditation means that ABAC has demonstrated to UKAS that it has the necessary systems and processes in place to provide competent, consistent and impartial certification against the ISO 37001:2016 ABMS standard.  In turn, holding accredited ABMS certification enables organisations to demonstrate to both regulators and customers that they have independently assessed and robust anti-bribery systems in place.  As ISO 37001:2016 is an internationally recognised standard, this could be an important factor in helping organisations maintain or expand their business by showing that they satisfy national and international anti-bribery compliance requirements, both in the UK and abroad.” UKAS said in a statement.

The scope of industries that ABAC Center of Excellence Limited is accredited for providing certification includes banking and finance; real estate, property; legal business services; construction and public administration and contracts;  power generation and transmission; mining, oils, gases/utilities, pharmaceutical and healthcare; transport and storage.

UKAS is the sole national accreditation body for the United Kingdom, and is recognised by the government to assess against internationally agreed standards, organisations that provide certification, testing, inspection and calibration services. Accreditation by UKAS demonstrates the competence, impartiality and performance capability of conformity assessment services. UKAS is a non-profit distributing private company, limited by guarantee, and is independent of Government.

Zafar Anjum, CEO of ABAC Center of Excellence Limited, said “We are honoured that UKAS has accredited the ABAC Center of Excellence Limited for the scope of ISO 37001:2016 Anti-Bribery Management System. We know this anti-bribery management standard is critical for any organisation seeking to prevent bribery, demonstrate “adequate procedures”, and stay in compliance with new and emerging laws and legislation.”

“As the United Kingdom’s sole national accreditation body, accreditation from UKAS is seen as a badge of honour and critical to giving our customers confidence in the competency and quality of ABAC’s certification services for ISO 37001:2016 ABMS,” said Huma Khalid, Scheme Manager at ABAC Center of Excellence Limited.

About ABAC Center of Excellence Limited

Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence is an independent certification body established for Anti-Bribery Management System, providing ISO 37001 training and accredited certification. The ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors, financial and corporate investigators, certified fraud examiners, forensic analysts and accountants. To learn more about ABAC Certification, visit ABACgroup.com.

Beating Bribery Leadership and culture in risk and anti-bribery management systems

Global corruption costs trillions in bribes. Samsung Group’s third-generation leader, Lee Jae-Yong, has been accused of bribing Choi Soon-sil, a friend of former President Park Geun-Hye. Following Lee Kun-hee’s (Lee Jae-Yong’s father) heart attack in 2014, it has been calculated that Lee Jae-Yong would need to pay $6 billion in tax bills to be able to inherit his father’s shares and maintain control of Samsung. The Beating Bribery Leadership and culture in risk and anti-bribery management systems company’s leaders have a long-standing history of alleged tax evasion but, up to now, the white-collar crimes have been pardoned by Park Geun-Hye and other South Korean presidents. The easier option was for Lee Jae-yong to pay a bribe to orchestrate the merger of two divisions: Samsung C&T Corp., which is dedicated to construction and trading and Cheil Industries Inc., which owned several entertainment properties. Upon completion, the merger would have given the Lee family more power over the entire Samsung Group.

Now that the plan was looking very promising, Jay Y. Lee used a bribe to execute it. According to Bloomberg in 2017: “The form of the alleged bribe was Vitana V, an $800,000 thoroughbred show horse, plus $17million in donations to foundations affiliated with the friend, whose daughter was hoping to qualify for the 2020 Olympics as an equestrienne.” (Bloomberg, 2017). Following the investigation, the situation took a significant downturn and Jay Y. Lee was sentenced to five years in prison. Chung Sun-sup, chief executive of research firm Chaebul.com said: “The five-year sentence was low given that he was found guilty of all the charges. I think the court gave him a lighter sentence, taking into account Samsung’s importance to the economy.” It is, however, one of the longest given to South Korean business leaders.

As for stock prices, they fell more than one per cent the day after Jay Y. Lee was arrested and then a similar amount after the verdict. Samsung Group’s profit was not hurt but South Korea’s new liberal president, Moon Jae-in, has pledged to rein in powerful, family-owned firms, like Samsung, which are known as chaebols in South Korea. He has promised to empower minority shareholders and end the practice of pardoning tycoons convicted of a white-collar crime. Another example of a company where corruption could be said to be part of company culture is (or was – more on that later) Rolls-Royce plc. Between 2000 and 2013, the company conspired to violate the Foreign Corrupt Practices Act (FCPA) by paying more than $35million in bribes through a third party to foreign officials to secure contracts. The US Department of Justice (DOJ) reported that in Thailand, Rolls-Royce admitted to using intermediaries to pay approximately $11 million in bribes to officials at Thai state-owned and state-controlled oil and gas companies that awarded seven contracts to Rolls-Royce during the same period. The way business was conducted in Kazakhstan, Azerbaijan, Angola and Iraq did not differ. The corrupt practices were spread globally.

In 2003, before the criminal activities came to light, the company’s chief executive, John Rose, who had been appointed in 1996, was honoured with a knighthood. After the engineering giant admitted in a deal with the US prosecutor that it had made corrupt payments, the UK’s Labour party called for him to be stripped of his title. Sir John Rose insists that he did not know of the corrupt practices. Let’s say that is the truth, but did he not fail as a leader simply because of that?

As a result of the scandal in 2016, Rolls-Royce has suffered the biggest financial loss in its history. Other factors include Brexit and the drop in the value of the pound, but the £671 million charge for the penalties the company paid to settle bribery and corruption charges with Serious Fraud Office (SFO), the DOJ and Brazilian authorities left a hole in the company’s accounts. Since then, the authorities, has appointed a new management and if its praised cooperation with SFO is an indication of the company’s culture shift, Rolls-Royce should no longer be in the news due to corruption scandals.

ISO standards

Failed leadership is the obvious reason for the above bribery cases. ISO 37001: 2016 Clause 5 Leadership outlines what is required from top management in order to obtain ISO 37001:2016 anti-bribery management system certification. Leadership is crucial for an anti-bribery management system to be effective and all points under Clause 5 Leadership are requirements.

As illustrated in the standard: “For a compliance management system to be effective, the governing body and top management need to lead by example, by adhering to and actively supporting compliance and the compliance management system.” Management has a number of other responsibilities, which are outlined in the standard. There are responsibilities that are more obvious than others, such as “ensuring that the anti-bribery management system, including policy and objectives, is established, implemented, maintained and reviewed to adequately address the organisation’s bribery risk” (5.1.2. a) and “deploying an accurate and appropriate resources for the effective operation of the anti-bribery management system” (5.1.2. c). There are also requirements that are not so obvious but just as important; “promoting an appropriate anti-bribery culture within the organisation” (5.1.2. h) and “promoting continual improvement” (5.1.2. i). These requirements highlight that obtaining ISO 37001:2016 certification is not just a box-ticking exercise. In order to obtain the certificate, a company needs to illustrate that compliance with anti-bribery legislation is integrated within its business model and, crucially, its culture. In practical terms, that means that the tone at the top needs to align with the ISO’s anti-bribery management system (ABMS) and the message needs to be understood from the boardroom to the factory floor.

Adopting bespoke policies

ISO 37001:2016 is a strategic approach to bribery risk identification and subsequent risk mitigation. Risk knowledge is a necessary factor for effective management. The adoption of ISO anti-bribery management system-tested principles and practices allows an organisation to tailor recommendations to its contextual business environment. ISO 37001:2016 has had the impact of making companies adhere to the international anti-bribery management system standard. As an international standard of high repute, ISO 37001 has brought changes to market dealings and firm operations. Organisations have a guideline of rules and code of ethics to follow to mitigate the risk of being involved in corruption charges. The international nature of the ISO 37001 management system allows organisations to align their internal policies with national laws where the organisation is operating. It is important to note that state-nations are increasingly internalising globally recognised legal anti-corruption frameworks and actively prosecuting offenders.

The assurance that an organisation is operating within international standards and processes helps cultivate social legitimacy in the operation of that company which directly serves to boost investor confidence and attract investors. Also, some consumers base their purchasing decisions on the ethical operations of a company. As such, the ISO standard serves as a pull factor for new consumers. Bribery is a very serious issue with adverse macroeconomic and microeconomic effects. In particular, it not only distorts markets and competition but also erodes the profitability of private firms and individual enterprises throughout an economy. The ISO anti-bribery management system provides measures that help organisations to prevent, detect, eradicate and address bribery. This is done by adopting anti-bribery policies, hiring personnel to oversee compliance risk management and due diligence on projects and business associates, implementing commercial and financial controls and also reporting and investigation procedures. ISO 37001:2016 can be used in any organisation regardless its size, type whether public or private or non-profit.

Enhanced transparency

Identification and resolution of bribery risks increase an organisation’s capacity to deliver consistent and improved services to consumers within the law and without engaging in bribery and corruption. In addition, the anti-bribery management system improves the way the organisation protects its people from fraud and ensures that there is a favourable working environment. Therefore, the ISO 37001:2016 anti-bribery management system enhances transparency in organisational culture, thus promoting the optimisation of resources. Protection of the organisation’s assets, shareholders and management from the adverse effects of bribery and corruption is another benefit associated with an ISO standard anti-bribery management system. Often, the negative effects of corruption are economic in nature. For instance, bribery affects the profit margins of a company to the extent that the management has to divert funds meant for either operating capital or assets capital to facilitating bribes.

Additionally, the public knowledge that an organisation is actively involved in bribery or any other form of peddling influence affects brand identity, which erodes the consumer base, thus reducing the overall profitability of an organisation. This system can operate as a standalone facility or function under another system through integration. One advantage that cuts across all organisations is the amplification of confidence in the eyes of external stakeholders. From another perspective, an organisation using this ISO format is assured of a good reputation as well as an excellent working environment. The risk factors are minimised and a solid credential pathway is realised. Indeed, many for-profit outfits have consistently applied anti-bribery systems as a measure of acquiring extensive market penetration goals. The ISO 37001 typically seeks to create an accountability culture around the globe that allows organisations to conduct activities in a clean and healthy environment.

Committed approach

An organisation with an ISO: 37001 2016 certification is open to public scrutiny since its management operates without fear. Further, such an entity displays fidelity and compliance to bribery legislation, such as acts of parliament or the congress. More importantly, subscribing to the system certification demonstrates a commitment to collaborate and work with like-minded organisations in managing bribery and corruption in the world. The chain of responsibility and accountability, additionally, ensures that the supply chain systems used by the organisations conduct clean and verifiable business. Closely related to that advantage is the growth of moral and legal business transactions between businesses and their contractors. Corruption can permeate to every corner of an organisation and the anti-bribery certification blocks such realities.

The ultimate beneficiary of ISO: 37001 is the shareholder. When an organisation bribes its way into the business and has its licence taken away, the shareholder loses their investment. If credibility is lost and the activity schedule goes down, it is the shareholder who bears the heaviest burden. However, bribery in organisations practically affects everyone in the political, commercial or social jurisdiction of such a company. Disgrace can lead to loss of jobs. And a fined or closed company implies lower tax revenues to the government. Therefore, businesses should integrate ISO: 37001 2016 in their management operations as well as in risk and compliance.

Curbing risks

The ISO certification embeds a culture of corporate social responsibility and willingness to collaborate with law enforcement agencies. Cognisant of the backlash and opprobrium associated with corporate obstruction of justice in the investigation of bribery and corruption, the ISO certification allows organisations to document their proactive involvement in reviewing their compliance with global standards of anti-bribery management as well as the concrete measures the management has initiated to show its willingness to prevent and curb bribery risks.

Finally, it is important to note that organisations have a distinct legal personality away from the management and other stakeholders. The separate legal personality of an organisation means that an organisation is liable for bribery activities committed by its employees or its management. Under domestic laws, culpable organisations are subject to legal sanctions, which include hefty pecuniary fines and, in some cases, dissolution of the organisation. Pecuniary fines affect the operations of a company by diverting either operating capital or assets to unintended activities. Overall, diversion of financial resources to foot fines affects the profitability of a company as well. In addition, such diversion of financial resources through fines affects growth strategies, such as expansion into new markets. In this case, provision of documented evidence to the prosecution or the courts demonstrates that an organisation has taken reasonable measures to prevent bribery and corruption, thus helping the organisation to avoid fines and sanctions, such as winding up.

4 Advantages of ISO 37001 Certification

Bribery is a key issue in both local markets and global business activities. The desire to expand business operations and maximise commercial profits not only requires identification and management of operational risks but also identification and mitigation of bribery risks. It is important to note that expansion of business tends to involve bureaucratic processes thus exposing an organisation to bribery risks in a bid to either fasten bureaucratic processes or even in lobbying for favourable operating business climate. Of note, bribes need not be monetary and may be in kind often in the form of favours such as trips, meals among other inducements that may influence favourable decisions. In fact, the global legislation on corruption recognises trading in influence as a form of corruption (Norton Rose Fulbright, 2017). While strategic management is geared towards the maximisation of profits, it is important for organisations to involve themselves in ethical and transparent dealings. Often, management and business personnel participate in corruption and bribery activities in order to facilitate their entry and continued presence in the market. This essay places great emphasis on benefits of ISO 37001:2016 anti-bribery management system certification by characteristically portraying companies and organisations as entities that have an obligation to internally comply with the international anti-bribery standards in order to promote their brand and obey laws thus strategically increasing their competitiveness and overall profitability. Therefore, this article discusses and synthesises existing literature on ISO 37001:2016 anti-bribery management system certification to argue that the ISO anti-bribery management system certification is beneficial to businesses. ISO 37001 Certification Advantages

In particular, the essay reviews four broad benefits of anti-bribery management. First, the article postulates that adoption and compliance with the ISO 37001 anti-bribery management system certification allows an organisation to engage in ethical business conduct by implementing a viable anti-bribery management program. The ISO anti-bribery management system acts as an instructive and exhaustive guide in the identification of bribery risks and formulation of viable bribery risk management practices (Center for Responsible Enterprise And Trade, 2014). Secondly, the article reviews the extent to which the anti-bribery management system enhances confidence among the management, employees, among other stakeholders that an organisation actively pursuing internationally recognised and accepted processes to prevent bribery and corruption. Third, the article proceeds to discuss the accruing benefit associated with protection of an organisation’s assets and the interests of various stakeholders from the effects of corruption. If found culpable, the management may be subject to imprisonment while the organisation may receive sanctions of fines or orders of winding up. As such, it is highly desirable to avoid bribery and corruption. Lastly, the due diligence and internal investigation procedures recommended by the ISO 37001 anti-bribery management system allows an organisation to adduce evidence to show that it has taken reasonable steps to prevent bribery and corruption.

1. Implementing a viable anti-bribery management program utilising widely accepted controls and systems

The ISO anti-bribery management system is a cornerstone of a strategic approach to bribery risk identification and subsequent mitigation of bribery risks. For instance, knowledge of a risk is a necessary factor for the effective management process of such risks. Additionally, using the tested principles and practices of the ISO anti-bribery management system allows an organisation to tailor the recommendations in the ISO anti-bribery management system to its contextual business environment. Therefore, it is necessary to discuss how the viability of the anti-bribery management program is of benefit to an organisation.

One key feature of the ISO 37001: 2016 anti-bribery management program is the integration of best practices in whistle-blowing procedures (Valerio, 2017). Usually, employees are the first people who are aware of bribery and corruption practices within an organisation. By integrating whistle-blowing protection in its internal anti-bribery practices, an organisation implements a viable anti-bribery management program that encourages employees to come forward with knowledge on ongoing corruption (Gordon & Miyake, 2001). It is important to note that information obtained through whistle-blowing is not always factual thus the need to conduct due diligence and verification.

Notably , the ISO 37001:2006 has had the impact of making companies adhere to the International Anti-Bribery Management System Standard. As an international standard of high repute, ISO 37001 has brought tremendous changes to market dealings and firm operations. Organisations have a guideline of rules and code of ethics to follow to mitigate the risk of being involved in corruption charges. Terms of engagement when dealing have been laid down and each organisation and other market players know what is legal and acceptable. Furthermore, the ISO 3700 contains pre-existing policies and guidelines which are familiar to some organisations. It only added a few regulations to existing policies. These include: reporting, monitoring and correction measures targeting the offenders (Cottrell, 2016). This has made it easier for the organisations to comply with them as they have been engaging them in the past. Companies have to comply with the new regulations before engaging in any kind of business. Fighting corruption in organisations and in business transactions has been made easier and achievable. Specifically tailored rules of engagement for different organisations ensure that they are able to stop or even prevent cases of bribery when or before they occur.

2. Stakeholder assurance that the organisation is actively pursuing internationally recognised and accepted processes to prevent bribery and corruption

The international nature of the ISO anti-bribery management system allows organisations to align their internal policies on corruption with the domestic laws of the country the organisation is operating in. It is important to note that state-nations are increasingly domesticating the global legal framework on anti-corruption and actively prosecuting offenders. Therefore, the international ISO anti-bribery management system is of high importance to a company as it formulates its internal policies on anti-bribery and anti-corruption in accordance with international and domestic legislation on anti-corruption in both the public and private sector.

The assurance that an organisation is operating within international standards and processes helps cultivate social legitimacy in the operation of a company which directly serves to boost investor confidence and attract investors. Also, some consumers base their purchase decisions on the ethical operations of accompany. As such, ISO standard serves as a pull factor for new consumers. Bribery is a very serious issue with adverse macroeconomic and microeconomic effects (Valerio, 2017). In particular, it not only distorts markets and competition but also erodes the profitability of private firms and individual enterprises throughout an economy. The ISO 37001:2016 anti-bribery management system provides measures that help organisations to prevent, detect, eradicate and address bribery. This is done by adopting the anti-bribery policies, hiring personnel to oversee the anti-bribery compliance risk management and diligence on projects and business associates, implementing commercial and financial controls and also reporting and investigation procedures. ISO 37001:2016 can only be used in any of the organisation regardless its size, type whether public or private or non-profit organisations.

The ISO 37001:2016 anti-bribery management system allows organisations to incorporate international standards of preventing bribery in their routine day to day operations. Put differently, it helps the organisation to improve performance by orienting the organisational culture towards transparency and eradication of bribery. Such an organisational culture allows the design of goals, objectives and mission that promote due diligence, and monitoring and evaluation in a bid to identify and mitigate bribery risks (Valerio, 2017). Identification and resolution of bribery risks increase an organisation’s capacity to deliver consistent and improved satisfactory services to consumers within the law and without engaging in bribery and corruption. In addition, the anti-bribery management system improves the way the organisation protects its people from fraud and ensures that there is a favourable working environment. Therefore, the ISO 37001:2016 anti-bribery management system enhances transparency in organisational culture thus promoting the optimisation of resources.

Investors are another important entity. When investors are investing in any organisation or market such as the stock market, they need to be protected from scrupulous businesses. The system allows them to have genuine business deals that are free from bribery. Since in many markets, for example, the stock market many players like to use shortcuts in the name of bribes as demonstrated by insider trading of stocks and options in the markets. The integration of anti-bribery management system in routine operations allows organisations to use international standards to detect and mitigate probable apparent forms of bribery. Thus, ISO 37001 ensures that there are sanity and fairness in the market.

The ISO 37001:2016 anti-bribery management system also levels the market by eradicating unfair commercial practices of bribery that stand to distort a section of the market to the whole market. Of note, bribery and trading in influence is a common practice among multinational corporations operating in developing nations. Often, bribes affect markets by distorting markets to the extent that the bribing organisations operate outside the law where they flout systems such as tendering and supply chains thus landing lucrative business deals with minimal attention being paid to merit. As such, commitment of businesses to the ISO 37001:2016 anti-bribery management system boosts investor confidence thus facilitating investment and healthy competition. It is important to note that bribery can also be used in recruitment. By embedding ISO 37001:2016 anti-bribery management system in its recruitment practices, an organisation benefits by hiring the best-fit talent. As such, the organisation boasts of job and talent match which is necessary for employee confidence and job satisfaction which translates to increased employee productivity.

3. Protection of the organisation, its assets, shareholders, and directors from the effects of corruption

Protection of the organisation’s assets, shareholders and management from the adverse effects of bribery and corruption is another benefit associated with the ISO anti-bribery management system. Often, the negative effects of corruption are economic in nature. For instance, bribery affects the profit margins of a company to the extent that the management has to divert funds meant for either operating capital or assets capital to facilitating bribes. Additionally, the public knowledge that an organisation is actively involved in bribery or any other form of peddling influence affects brand identity which erodes consumer base thus reducing the overall profitability of an organisation.

Bribery is one of the world’s most destructive habits. Responsible for the loss of an annual monetary figure of $1 Trillion, this vice has demoralised institutions and nations as well. In the appreciation of the catastrophic effects of this vice, ISO designed a system capable of sealing loopholes against bribery in organisational systems. Specifically, the ISO 37001:2016 creates precise measures that assist in detection, prevention and the address of bribery occurrences in institutions (Center for Responsible Enterprise And Trade (CREATe), 2016). This ISO process focuses on two bribery angles. One, it addresses how a bribery by the organisation can occur. Here, the certification demands to identify either the business or the associates who have handled a bribe deemed to benefit the organisation. Two, it addresses cases where the organisation has received a bribe. In this scenario, it is the reality where a business or its associates has received or given a bribe in relation to the activities conducted by the entity.

This system can operate as a stand-alone facility or function under another system through integration. The tool is available for use by all organisations regardless of purpose or objectives. Therefore, commercial organisations, not-for-profit entities and governments are free to apply it as a way of achieving anti-bribery compliance. One advantage that cuts across all organisations is the amplification of confidence in the eyes of external stakeholders. From another perspective, an organisation using this ISO format is assured of a good reputation as well as an excellent working environment. The risk factors are minimised and a solid credential pathway is realised. Indeed, many for-profit outfits have consistently applied anti-bribery systems as a measure of acquiring extensive market penetration goals. The ISO 37001 typically seeks to create an accountability culture around the globe that can have organisations conduct activities in a clean and health environment. For the business world, ISO 37001 is packaged to breed a set-up full of trust in a way that can sustain and grow commercial activities. Simply, it is a system that seeks to make the world an honest place.

An organisation with an ISO: 37001 2016 certification is open to public scrutiny since its management operates without fear. Further, such an entity displays fidelity and compliance to bribery legislations such as acts of parliament or the congress. More importantly, subscribing to the system certification demonstrates a commitment to collaborate and work with like-minded organisations in managing bribery and corruption in the world. The chain of responsibility and accountability, additionally, ensures that the supply chain systems used by the organisations conduct clean and verifiable business. Closely related to that advantage is the growth of moral and legal business transactions between businesses and their contractors. Corruption can permeate to every corner of an organisation and the anti-bribery certification blocks such realities.

The ultimate beneficiary of ISO: 37001 is the shareholder. When an organisation bribes its way into the business and has its license taken away, the shareholder loses their investment. If credibility is lost and the activity schedule goes down, it is the shareholder who bears the heaviest burden. However, bribery in organisations practically affects everyone in the political, commercial or social jurisdiction of such a company. Disgrace can lead to loss of jobs. Still, a fined or closed company implies lower tax revenues to the government. Therefore, businesses should integrate ISO: 37001 2016 in their management operations as well as in risk and compliance.

4. Provision of acceptable evidence to prosecutors or courts that the organisation has taken reasonable steps to prevent bribery and corruption

The ISO certification embeds a culture of corporate social responsibility and willingness to collaborate with law enforcement agencies. Cognisant of the backlash and opprobrium associated with corporate obstruction of justice in the investigation of bribery and corruption, the ISO certification allows organisations to document their proactive involvement in reviewing their compliance with global standards of anti-bribery management as well as the concrete measures the management has initiated to show its willingness to prevent and curb bribery risks.

It is important to note that organisations have a distinct legal personality away from the management and other stakeholders. The separate legal personality of an organisation means that an organisation is liable for bribery activities committed by its employees or its management. Under domestic laws, culpable organisations are subject to legal sanctions which include hefty pecuniary fines and in some cases dissolution of the organisation. Pecuniary fines affect the operations of a company by diverting either operating capital or assets to unintended activities. Overall, diversion of financial resources to foot fines affects the profitability of a company as well. In addition, such diversion of financial resources through fines affects growth strategies such as expansion into new markets. In this case, provision of documented evidence to the prosecution or the courts demonstrates that an organisation has taken reasonable measures to prevent bribery and corruption thus helping the organisation to avoid fines and sanctions such as winding up.

The management has a huge role in identification of bribery risks in a bid to maximise an organisation’s efficiency and productivity. The ISO certification system offers best strategies to manage an organisation in the face of bribery and corruption risks. Of note, ISO: 37001 2016 allows organisations to identify risks and formulate key performance indicators to monitor and evaluate the extent to which an organisation acts within the law and conducts ethical business. In sum, the ISO: 37001 2016 certification not only facilitates the war against corruption in business environments but also promotes efficiency and productivity of an organisation.[/vc_column_text][/vc_column][/vc_row][accordion_father][accordion_son title=”Who is CRI Group?”]

  1. Who is CRI Group?Based in London, CRI Group works with companies across the Americas, Europe, Africa, Middle East and Asia-Pacific as a one-stop international Risk Management, Employee Background Screening, Business IntelligenceDue Diligence, Compliance Solutions and other professional Investigative Research solutions provider. We have the largest proprietary network of background-screening analysts and investigators across the Middle East and Asia. Our global presence ensures that no matter how international your operations are we have the network needed to provide you with all you need, wherever you happen to be. CRI Group also holds BS 102000:2013 and BS 7858:2012 Certifications, is an HRO certified provider and partner with Oracle.In 2016, CRI Group launched Anti-Bribery Anti-Corruption (ABAC®) Center of Excellence – an independent certification body established for ISO 37001:2016 Anti-Bribery Management Systems, ISO 19600:2014 Compliance Management Systems and ISO 31000:2018 Risk Management, providing training and certification. ABAC® operates through its global network of certified ethics and compliance professionals, qualified auditors and other certified professionals. As a result, CRI Group’s global team of certified fraud examiners work as a discreet white-labelled supplier to some of the world’s largest organisations. Contact ABAC® for more on ISO Certification and training.

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  1. Center for Responsible Enterprise And Trade (CREATe). (2016). Top 10 Takeaways of the ISO 37001 Anti-Bribery Management Systems Standard. Center for Responsible Enterprise And Trade (CREATe). Retrieved from https://create.org/wp-content/uploads/2016/09/CREATe-ISO-37001-Guide-eBook-Final-9.27.16.pdf
  2. Center for Responsible Enterprise And Trade. (2014). Addressing corruption risk through enterprise risk management. Center for Responsible Enterprise And Trade. Retrieved from https://create.org/wp-content/uploads/2014/12/create_whitepaper_ac_2014.%C6%92.single_lo.pdf
  3. Cottrell, E. (2016, December 13). ISO 37001- The Potential Impact of the New International Anti-Bribery Management System Standard. Retrieved from http://pcgc.parkerpoe.com/iso-37001-the-potential-ipact-of-the-new-international-anti-bribery-management-system-standard/
  4. Gordon, K., & Miyake, M. (2001). Business approaches to combating bribery: A study of codes of conduct. Journal of Business Ethics, 34(3), 161-173.
  5. Norton Rose Fulbright. (2017, February). Business ethics and anti-corruption world. Norton Rose Fulbright. Retrieved from http://www.nortonrosefulbright.com/files/business-ethics-and-anti-corruption-world-issue-5-146709.pdf
  6. Valerio, B. (2017). Corruption and ISO 37001: A new instrument to prevent it in international entrepreneurship. World Journal of Accounting, Finance and Engineering, 1, 1-14.

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