Bribery continues to be a serious issue of our time. At the end of 2015 FIFA, football’s world governing body had been engulfed by claims of widespread corruption. Uncovering nearly $100+ Million in bribes paid to FIFA officials. But this isn’t the first time corporate bribery has been brought into the spotlight. The famous Watergate scandal in 1973, ultimately caused Richard Nixon’s resignation as president
According to the World Bank, around USD 1 trillion in bribes are paid each year, eroding economies and contributing to poverty worldwide. Thankfully a new ISO standard to combat bribery has just been given the green light, taking it to the final stage before publication. The new draft version of the ISO standard was given a 91% vote of confidence from the ISO members involved – highlighting just how important this ISO standard will be towards combating bribery within business.
ISO 37001, Anti-bribery management systems, is designed to help organisations implement effective measures to prevent and address bribery. Encouraging a work culture of honesty, transparency and integrity. While it cannot guarantee that bribery will not occur, it can provide the tools and systems to greatly reduce the risk and help organisations deal with it effectively.
Neill Stansbury, Chair of the ISO project committee developing the standard, said the strong result of the vote gave the committee even greater confidence in the standard’s ultimate potential.
“Bribery can be prevented if organisations in the public and private sectors, with genuine intent, implement effective controls.
“The overwhelming positive vote on the draft version of ISO 37001 gives us further confidence that it will be an effective tool to help organisations of all kinds take effective measures to combat bribery in all its forms.”
The final version of ISO 37001 is expected to be published later this year.