ISO 37001 Singapore - ANTI-BRIBERY MANAGEMENT SYSTEM STANDARD
Bribery poses a significant threat to businesses and their reputation. ISO 37001:2016 is an internationally recognized standard designed to help organizations establish, implement, maintain, and improve an Anti-Bribery Management System (ABMS). It aligns with the guidelines of Singapore’s Corrupt Practices Investigation Bureau (CPIB) and incorporates global best practices to address bribery risks.
This standard is suitable for organizations of all sizes and industries, including public, private, and voluntary sectors.
Prevent, detect and address bribery by adopting an anti-bribery policy, appointing a person to oversee anti-bribery compliance, training, risk assessments and due diligence on projects and business associates, implementing financial and commercial controls, and instituting reporting and investigation procedures.
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- ISO Consultants Pte. Ltd. 30 Petain Rd, Singapore 208099.
- +6585993818
- info@isoconsultant.sg
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KEY COMPONENTS OF - ISO 37001 Singapore
- Develop a formal policy outlining the organization’s zero-tolerance stance on bribery and corruption.
- Ensure top management actively supports and oversees anti-bribery initiatives.
- Appoint a compliance officer to monitor and enforce anti-bribery controls.
- Identify and evaluate bribery risks in operations, projects, and partnerships.
- Conduct due diligence on employees, business associates, suppliers, and other stakeholders to prevent bribery risks.
- Implement controls for financial transactions, procurement processes, and contracts to detect and prevent bribery.
- Provide comprehensive training for employees and stakeholders to ensure awareness and adherence to anti-bribery policies.
- Establish whistleblowing channels for reporting suspected bribery incidents and implement investigation procedures.
- Regularly review and improve the Anti-Bribery Management System through internal audits and monitoring.
BENEFITS OF ISO 37001 Singapore CERTIFICATION
How ICPL Assists:
ICPL helps organizations uphold ethical practices by aligning with Singapore’s Prevention of Corruption Act (PCA) as per Corrupt Practices Investigation Bureau and ISO 37001 requirements. ICPL will develop customized anti-bribery policies, procedures, and formats with over 50 documents tailored to your organization.
CONSULTING STAGES FOR ISO 37001 Singapore
GAP ANALYSIS - ICPL identifies gaps in anti-bribery policies and compliance with the CPIB.
AWARENESS TRAINING - ICPL trains employees on ethical practices and whistleblowing mechanisms in line with the PCA.
DESIGN AND DEVELOPEMENT - ICPL develops tailored anti-bribery policies, due diligence processes, and whistleblowing mechanisms compliant with the PCA.
IMPLEMENTATION TRAINING - ICPL trains teams on implementing anti-bribery measures and managing risks.
INTERNAL AUDITORS TRAINING - ICPL trains auditors to evaluate anti-bribery controls and compliance with ISO 37001 and PCA.
FACILITATE INTERNAL AUDIT - ICPL audits anti-bribery processes for compliance with the PCA and ISO 37001 standards.
FACILITATE MANAGEMENT REVIEW - ICPL reviews bribery risk assessments and compliance during management reviews.
ASSISSTANCE DURING CERTIFICATION AUDIT - ICPL ensures readiness for audits by demonstrating compliance with ISO 37001 and PCA.
CLOSURE OF NON - CONFORMANCES (NC's) - ICPL resolves any non-conformities related to PCA compliance.
CERTIFICATION - ICPL secures ISO 37001 certification for your organization.
ISO 37001 Singapore - EDG GRANT FOR SINGAPORE BUSINESS'
Enterprise Development Grants (EDG) are grants provided by the government of Singapore to help organizations improve their competitiveness and capability. These grants are offered by Enterprise Singapore and provide funding support for activities such as consultancy, training, and certification projects.
Here are some of the benefits of getting an Enterprise Development Grant (EDG) for ISO 37001 Singapore:
EDG GRANT PROCESS IN SINGAPORE
The first step in the process is to assess whether your organization is eligible for the EDG. This typically involves evaluating your company's size, revenue, and other criteria to determine if you meet the eligibility requirements set by Enterprise Singapore. Some of the common eligibility criteria include:
- Company size: Your company must have a minimum of 30% local shareholding and fewer than 200 employees.
- Annual sales turnover: Your company's annual sales turnover must not exceed SGD100 million.
- Type of project: The project must be related to improving your organization's competitiveness and capability.
If your organization is eligible for the EDG, you will need to submit an application. This typically involves providing detailed information about your organization and the project you are proposing, as well as your plans for implementation. This information typically includes:
- Company profile: Information about your organization, including its history, products and services, and market position.
- Project details: A description of the project you are proposing, including the objectives, timeline, budget, and expected outcomes.
- Implementation plan: A detailed plan for how you will implement ISO 37001, including the resources you will need, the timeline for completion, and any potential risks or challenges.
Once your application is submitted, it will be reviewed by Enterprise Singapore. During this review, Enterprise Singapore will assess your organization's capability and the feasibility of the project. If your application is approved, you will receive a letter of approval from Enterprise Singapore.
After your application has been approved, you can begin the implementation process. This typically involves working with a consultant or certification body to implement ISO 37001, as well as preparing for the certification audit. This typically includes:
- Implementing anti-bribery and corruption management systems: This involves developing policies, procedures, and systems to manage bribery and corruption risks.
- Conducting risk assessments: This involves identifying and assessing the risks of bribery and corruption in your organization and taking steps to mitigate these risks.
- Training employees: This involves providing training to employees on anti-bribery and corruption policies and procedures, as well as their roles and responsibilities in preventing bribery and corruption.
Once you have completed the implementation process, you will undergo a certification audit. This audit will assess whether your organization has met the requirements of ISO 37001 and determine whether you are eligible for certification. This typically involves:
- Documentation review: The auditor will review your anti-bribery and corruption management system documentation to ensure it meets the requirements of ISO 37001.
- Site visit: The auditor will visit your organization to observe the implementation of your anti-bribery and corruption management system and assess its effectiveness.
- Interviews: The auditor may also conduct interviews with employees and other stakeholders to gather additional information about your anti-bribery and corruption management system.
After your organization has been certified, you can submit a claim for reimbursement of the eligible costs. This typically involves providing proof of expenses, such as receipts and invoices, to Enterprise Singapore. This can include expenses related to consultancy fees, certification fees, and training costs.