Issue 43 – October 2012
The UK Bribery Act 2010, which came into force in July 2011, introduced a new offence of 'failure of a commercial organisation to prevent bribery' – leading to a surge in interest in Standards that can act as a defense for companies at risk. In response to the new legislation, BS 10500:2011 Specification for an anti-bribery management system (ABMS) will help companies to verify both internally and to external stakeholders that they have robust anti-bribery practices in place.
BS 10500 is designed for organisations of all sizes, sectors, and locations, and is relevant to businesses in both the public and private sector. The anti-bribery Standard is highly recommended for those working in industries with a greater exposure to risk, such as construction, engineering, defense, mining, and utilities.
A management system is a proven framework to manage and continually improve an organisation's policies, procedures, and processes. The systematic approach that BS 10500 encourages will help organisations to identify risks earlier on and help make sure that anti-bribery practices are maintained and improved over time. A BS 10500 management system will help you:
- stay protected and compliant with legislation
- make sure suppliers are committed to anti-bribery best practice
- manage risk across your business up to and including supply chains
- potentially cut the cost of your corporate insurance premiums
- continually improve and deliver best practice in managing risks
- maximise cost efficiency, particularly if you already have management systems in place.
To demonstrate how this Standard can help your organisation, BSI has produced four case studies to illustrate the benefits of BS 10500 in action.
Summarised from BSI's website.
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