In an article from the WSJ titled Anti-Bribery Compliance Gets Global Standard they discussedglobal standards for anti-bribery compliance programs, which experts said would provide companies with leverage when dealing with partners in high-risk countries.

Known as ISO 37001(Links to an external site.), the standard, issued by the International Standards Organization, largely mirrors the components of anti-bribery guidance from U.S. authorities, experts say. However, these experts said, global companies operating in countries with lower standards will now have to catch up. The standard was heralded as a significant step in the continued globalization of anti-corruption compliance, especially in graft-prone countries, wrote Fernando Cevallos and Brian Mich, compliance experts from the consultancy Control Risks, on the FCPA Blog. "Companies can now employ a tool that raises both the bar for compliance activities and the awareness of the risk of corruption," they wrote. The standard, according to the ISO, specifies requirements for policies and procedures, tone from the top, oversight by a compliance manager, training, risk assessments, financial controls and reporting. Neill Stansbury, chair of the committee responsible for the standard, said in a statement that it was developed to ensure flexible use by organizations of all sizes, wherever they do business. "The bribery risk facing an organization varies according to factors such as the size of the organization, the countries and sectors in which the organization operates, and the nature, scale and complexity of the organization's operations," he said. "Therefore, ISO 37001 specifies the implementation by the organization of reasonable and proportionate policies, procedures and controls."

QUESTIONS: 1. Do you think all countries will abide by these ISO standards and if not, what should the repercussions be? 2. Do you think it's possible that ISO 37001 can always define what constitutes a bribe in global business? Support your opinion.