Module 10: The benefits and requirements of ISO 37001
Requirements: (14) Financial, commercial and other corporate controls
Implement appropriate financial, commercial and other corporate controls within the organisation which are designed to reduce bribery risk. For example:
require at least two signatures on any transaction which could result in more than low bribery risk (as ascertained by the risk assessment). For example:
payments made by the organisation
contracts entered into by the organisation
approval of work undertaken for the organisation
ensure that suitably senior decision makers are required to approve any transaction falling within the medium to high risk category in the organisation’s risk assessment
ensure that where more than one signature is required, that the signatories come from separate functions (e.g. one from operations and one from finance)
as far as possible, make and receive payments through the banking system, so that the payments are traceable
restrict the use of cash payment to an absolute minimum, and only when there is no other reasonable alternative payment method available.