PT Kimia Farma Trading & Distribution (KFTD) implements the anti-bribery management system (SMAP) as an effort to prevent the practice of corruption in the company. The system is regulated in compliance with ISO 37001:2016 to provide guidance and further implementations to anti-bribery principles.
Among the important factors under the system is financial control, which serves as a preventative measure against corruption or any other fraudulent activities. KFTD also utilizes financial control to determine financial spending to be more measurable and mitigate risks.
Financial Control to Prevent Any Attempt of KFTD Corruption
Monitoring the inflow and outflow of financial resources is one thing, but financial control helps to prevent corruption by reinforcing certain aspects, including:
- Imposing employees to record all expenses related to any third party. This also includes citing accounts as to why the expenses occur.
- Managing bookkeeping neatly, which includes all records on proof of payment, memorandum, and other third-party-related transactions (clients, suppliers, etc)
- Implementing tiered authentication on transaction approval means that major transactions require top-tier management approval.
- Verifying all payees regarding work or services and making sure they have been approved by the relevant organization mechanism.
- Requiring at least two authentications in the form of signatures of the authorized management on all submissions of payments.
- Enclosing appropriate related supporting documents required for approval of payment.
- Limiting the occurrence of cash payment transactions and implementing effective cash payment controls.ย
- Carry out independent financial audits and changes periodically for various purposes like fraud detection and compliance, as well as better planning and budgeting.
- Applying management review periodically to examine significant financial transactions.
With effective and consistent financial control, any fraud and attempt at corruption is preventable. This is only achievable by implementing effective planning, practice, review, and control periodically.
Through its anti-bribery management system, KFTD demonstrates its commitment to embodying high integrity and creating safe, quality services for the public and all stakeholders.