Bechtel’s Internal Audit group provides independent and objective assurance on the effectiveness of internal controls, including those designed to assure compliance with policies, procedures, laws and regulations.
Internal Audit prepares its annual audit plan with a focus on detecting corruption and uses the Transparency International Corruption Perceptions Index as one of the criteria for selecting which projects to audit. It also consults with Compliance counsel on an annual basis to identify emerging areas of anti-corruption risk and adjusts its audit plan accordingly.
Among other things, Internal Audit:
- Conducts regular process audits focused on areas of possible interaction with government officials, such as traffic & logistics and customs clearance, visas & work permits, and political contributions/donations;
- Regularly monitors petty cash and procurement card payments and scrap and salvage processes that could potentially fund improper facilitating payments;
- Routinely tests to assure that all suppliers and subcontractors are screened against the Restricted Party Lists;
- Periodically reviews payments to active agents to make sure…
