2 Methods KFTD Uses to Enforce Anti-Bribery Policy

Various steps have been implemented to prevent Bribery in KFTD and to enforce this policy. Anti-bribery policies that control financial and non-financial aspects have been implemented following the results of the risk assessment.

Here are the two methods implemented to enforce good corporate governance and minimize the employees in KFTD violating the policy.

Financial Control

Financial control is a crucial aspect of anti-bribery policy. Here are the key measures implemented by KFTD to enforce this policy.

• Implement tiered level payment approval.
• Verify payment recipients and designated work or services have been approved by relevant organizational mechanisms.
• Apply at least two signatures to the payment agreement.
• Apply appropriate supporting documents to be attached to the payment approval,
• Limit the use of cash payments and implement effective cash payment control methods.
• Implement accurate and clear payment categories and account descriptions.
• Significant financial transactions are reviewed periodically.
• Independent financial audits and changes are carried out periodically.

Non-Financial Control

Non-financial control also plays an important role in preventing bribery. Here are the non-financial control measures implemented by KFTD.

• Contractors, sub-contractors, suppliers, and consultants must have gone through a pre-qualification process
• At least two people oversee the auction and approve the contract winner
• Implement separation of duties
• requires the signatures of at least two people on the contract and on documents that cause changes to the contract
• Put higher levels of management in place to oversee potentially high bribery transactions
• Protect the integrity of auctions and sensitive pricing information by limiting access to appropriate persons
• Implementing information technology-based systems

Implementing these controls helps strengthen the compliance effort by preventing Bribery that potentially occurs in KFTD. These controls will be continually reviewed and enhanced to adapt to changing risks and regulatory requirements. Therefore, Kimia Farma Trading & Distribution will be able to maintain the implementation of good corporate governance in the company.