5.5.2.2 Special anti-corruption accounting controls (internal efforts)

Companies such as the Coca-Cola Company and Siemens AG have implemented special accounting controls to prevent and detect corruption. The CocaCola Company has implemented special anti-corruption books and records auditing. In order to carry out this audit, specific activity accounts have been implemented. These accounts include a government official-specific general ledger; accounts of gifts, meals and entertainment; accounts of donations of company products; accounts of charitable donations. These specific accounts are reviewed on a quarterly basis. Furthermore, all expenses related to dealings with government officials have to be approved by the company'slegal counsel.1 Currently, Siemens AG is in the process of enhancing internal controls through the centralisation of its bank accounts and cash payment systems.2