System Guides

ISO 18788 Clause 7.1.2.5 focuses on the development of financial and administrative procedures and controls within the Security Operations Management System (SOMS). These procedures and controls are essential to support effective security and risk management in both planned and emergency situations. Here's an explanation of the key elements of this clause:

Clause 7.1.2.5 - Financial and Administrative Procedures:

1. Development of Procedures: The organization is required to develop financial and administrative procedures and controls that support the provision of effective security and risk management. These procedures are essential to ensure that the organization can respond efficiently to both planned security operations and unforeseen disruptive or undesirable events.

2. Expedited Fiscal Decisions: The procedures should be established in a way that ensures fiscal decisions can be expedited when necessary. This means that financial processes should not hinder rapid decision-making in critical situations.

3. Alignment with Authority Levels: Procedures should be in accordance with established authority levels within the organization. This ensures that financial and administrative decisions are made within the appropriate framework of responsibility.

4. Adherence to Accounting Principles: The procedures should adhere to recognized accounting principles, ensuring transparency and accountability in financial matters.

5. Consultation and Coordination with the Client: The development of these procedures should involve consultation and coordination with the client or customer for whom security services are being provided. This ensures that financial and administrative processes align with the client's expectations and requirements.

In summary, this clause emphasizes the need for well-defined financial and administrative procedures and controls within the SOMS. These procedures should enable efficient decision-making, adhere to established authority levels and accounting principles, and be developed in consultation with the client. Effective financial and administrative processes are crucial for supporting security and risk management efforts, whether in planned security operations or during emergency response situations.