Four-eye principle: Difference between revisions
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=== Definition from "BusinessFinance"=== |
=== Definition from "BusinessFinance"=== |
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The four-eye principle "means that all business decisions and transactions need approval from the CEO and CFO. Since the CFO isn't reporting to the CEO, there is an independent controlling mechanism in place." |
The four-eye principle "means that all business decisions and transactions need approval from the CEO and CFO. Since the CFO isn't reporting to the CEO, there is an independent controlling mechanism in place." <ref>{{cite web |url=http://www.businessfinancemag.com/magazine/archives/article.html?articleID=13920&pg=5 | last=Hason |first=Fay | title=Pushing Global Growth |publisher=Business Finance |date=2002-12 |accessdate=2007-02-21}}</ref> |
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=== Purpose === |
=== Purpose === |
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The purpose of the four-eye principle is to ensure companies are complying with their policies. |
The purpose of the four-eye principle is to ensure companies are complying with their policies. |
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===See also=== |
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*[[Segregation of duties]] |
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=== References === |
=== References === |
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{{reflist}} |
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* Hason, Fay. "[http://www.businessfinancemag.com/magazine/archives/article.html?articleID=13920&pg=5 Pushing Global Growth]", ''Business Finance'', 2002-12. Retrieved on [[Feb_21]], [[2007]]. |
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[[Category:Business process]] |
[[Category:Business process]] |
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Revision as of 12:05, 11 April 2008
Four-eye Principle
The 4-eye principle aims at making impossible for a single person to complete alone a given transaction.
The execution of a 4-eye secured transaction requires 2 "sub-transactions" to be performed consecutively by 2 different persons; the 2 sub-transactions are bound in a way that the person performing the first of these sub-transaction is NOT allowed to perform the second one, and vice-versa.
Definition from "BusinessFinance"
The four-eye principle "means that all business decisions and transactions need approval from the CEO and CFO. Since the CFO isn't reporting to the CEO, there is an independent controlling mechanism in place." [1]
Purpose
The purpose of the four-eye principle is to ensure companies are complying with their policies.
See also
References
- ^ Hason, Fay (2002-12). "Pushing Global Growth". Business Finance. Retrieved 2007-02-21.
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