ONGC becomes India's first PSU to get certified for Anti-Bribery Management System

New Delhi: Oil and Natural Gas Corporation (ONGC) has become the first Central Public Sector Enterprise (CPSE) in India to get certified for Anti-Bribery Management System (ABMS) by an international accredited certification body InterCert USA. Earlier in 2005, ONGC was the first organization in India that adopted the Integrity Pact (IP) by Transparency International.

"ABMS Certification, thus, becomes another significant milestone in the journey of the Energy Maharatna towards strengthening its stature as a preferred business partner", ONGC said in an official statement.

After complete assessment and validation by InterCert USA, ABMS has been implemented as per ISO 37001:2016 International Standard under the guidance of an international consultancy firm Digital Age, in the first phase across 10 departments of ONGC’s Corporate Office in Delhi. The official statement of the company, however, did not divulge on the details of the departments Anti-Bribery Management System has been implemented.

Apart from the Chairman and Directors of ONGC, Chief Vigilance Officer Ranjan Prakash Thakur, and Key Executives of Corporate Departments were also present during the award ceremony, along with a representative from the Certification Body InterCert.

How does Anti-Bribery Management System function?

ISO 37001:2016, an International Standard in the domain of ABMS, guides organizations on how to eradicate bribery-related incidents and concerns. It addresses bribery, one of the world’s most challenging issues, head-on and demonstrates a committed approach to stamping out corruption (bribery) by providing a globally recognized way to address the issue.

This International Standard allows organizations to prevent, detect and address bribery by adopting an Anti-bribery policy, appointing person(s) 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.

(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)