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The new ISO 37001 standard on anti-bribery management systems is expected to be finalized later this year. In many respects, the standard brings the re-affirmation of global best practices in anti-corruption compliance that emerged through norms such as the OECD Convention on Combating Bribery or Department of Justice and Serious Fraud Office guidance on the U.S. Foreign Corrupt Practices Act and the UK Bribery Act, respectively. At the same time, ISO 37001 is not likely to be a silver bullet to all the compliance challenges given its lack of clarity in focus on the existence of formal elements of a compliance program vs. its effective implementation, or the cost of certification that may be prohibitive for smaller companies.

William Marquardt, Director, and David Holley, Managing Director at the Berkeley Research Group, LLC (a private management consulting firm) analyze ISO 37001’s promise and limitations in a recent post on The FCPA Blog: https://globalanticorruptionblog.com/2016/08/25/guest-post-the-draft-iso-37001-anti-bribery-standards-promise-and-limitations/