Anti-corruption and anti-bribery trends that contribute to corporate ethics

Montevideo, August 28, 2024. 

An increasing number of organizations in the public and private sectors are committing to preventing corruption and bribery by adopting best practices and fostering a comprehensive, ethical, transparent, and compliant culture.

The Anti-Bribery Management System of Sofis Solutions is based on the ISO 37001:2016 certification, awarded by the Uruguayan Institute of Technical Standards (UNIT) and AENOR, and includes continuous improvement practices that involve all processes, procedures, and other elements within its scope. In addition, actions are implemented to achieve anti-bribery objectives and to help identify, assess, and manage bribery-related risks.

Obtaining this certification represents a significant milestone for the company, as new ethical and transparency practices were adopted at the operational level, resulting in the strengthening of an integrity culture involving all members of the organization and its stakeholders, who commit to working under ethics and transparency principles.

Recently, Sofis Solutions underwent its annual audit for maintaining its Anti-Bribery Management System, achieving satisfactory results. The organization indicated it will continue its continuous improvement process for the next period.

“The implementation and certification of Anti-Bribery Management Systems have allowed organizations to promote anti-bribery and anti-corruption practices with a systematic and formalized approach, providing, among other things, evidence of established commitments. The application of Information Technologies to reduce, detect, or mitigate risks related to these practices increases the effectiveness of these systems. At Sofis Solutions, we continue our commitment to using technology and solutions that adapt to new needs for the continuous improvement of the Anti-Bribery Management System.”, commented Laura Viré, Coordinator of Integrated Management Systems at Sofis Solutions.

ISO 37001 is designed to establish effective anti-bribery management systems and includes key components such as risk assessment, development of policies and procedures, operational implementation and control, training and communication for all members of the organization, performance evaluation, and continuous improvement through constant review of processes.

Proper implementation of an Anti-Bribery Management System is fundamental for organizations committed to business ethics and transparency.

There are mechanisms and tools designed to address corruption and bribery, contributing to the prevention of such cases. Below are some trends that help organizations achieve effective anti-bribery and anti-corruption management:

1. Standardization and regulation of legislation worldwide: This trend encourages more countries and regions to align and standardize requirements and laws to prevent bribery and corruption. Examples include North America (Canada and the USA), the United Kingdom, the European Union, and Asia and Oceania, which have implemented regulations and independent legislation since the beginning of the century.
2. International collaboration against corruption: Collaboration between countries is essential to prevent and eradicate corruption. More countries are sharing knowledge and experiences to minimize corruption and bribery risks. International cooperation supports governments by collecting and disseminating examples of anti-corruption and anti-bribery best practices.
3. Incorporation of technology for anti-corruption management: The use of Information and Communication Technologies (ICT) is essential in the fight against corruption and bribery, as it helps investigate, monitor, and detect potential issues. Automation and the integration of Artificial Intelligence can improve due diligence results.
4. Due diligence in mergers and acquisitions: Due diligence affects mergers and acquisitions by reviewing the origin of capital to understand financial status. It is necessary to apply due diligence at the highest levels of the organization or include relevant areas and levels, regardless of the location of the operations.
5. Transparency in supply chain management: Organizations must implement appropriate measures to prevent corruption and bribery within their supply chains, ensuring that suppliers are committed to transparency.

These trends foster a culture of integrity and compliance. Implementing an Anti-Bribery Management System provides a solid framework for identifying and preventing bribery situations within an organization.