The International Organization for Standardization (ISO) has announced the approval of a new project for ISO 37001, the new anti-bribery management system standard.
Released in November 2011, BS 10500, the current specification for anti-bribery management is being used as a base document to develop the standard.
A committee was setup to develop the standard and they were due to have their first committee meeting at the end of March 2014. The draft international standard is expected to be available for comment early 2015 with the final standard expected to be published in 2016.
ISO 37001 Update
Now at Committee Draft 2 stage, this forthcoming ISO standard will be the international replacement, based on the current standard, BS 10500:2011 - Specification for an anti-bribery management system (ABMS).
The standard will specify the requirements and guidance for establishing, implementing, maintaining and improving an anti-bribery management system. Client interest in anti-bribery management system standards is at an all-time high as a result of Chapter 23 of the UK Bribery Act which became law in 2011 and affects all companies registered in the UK.
Certification to BS 10500 (due to transition to ISO 37001 in 2016) will help demonstrate to their stakeholders that they have robust anti-bribery practices in place and that they are being implemented adequately.
We expect final publication of the standard in late 2016.