Corruption

Alexandra Wrage: The pros and (substantial) cons of an ISO anti-bribery standard 

The international business community wins when companies across supply and marketing chains work to the same high standards. There is less risk and more predictability, which promotes confidence among business partners. Benchmarking among peers and establishing and sharing model language and best practices all help to ensure that companies set their sights on a reasonable common denominator for compliance. 

But standardization can only go so far. 

Anyone who doubts this need only review the language of the U.S. Federal Sentencing Guidelines, the DOJ/SEC Resource Guide to the FCPA. or the Guidance to the UK Bribery Act each of which resorts, of necessity, to references to programs that are "reasonable", "appropriate" and "proportionate."

...The new anti-bribery standard proposed by the International Standards Organization (ISO 37001) reflects this same “reasonable and appropriate” language. Compliance professionals working in jurisdictions with a credible threat of anti-bribery enforcement -- the U.S., UK, Canada, Germany -- will find nothing new in this standard.