Dual signature
In one sentenceA control that requires the signature or approval of two authorized people together to complete a financial transaction, such as issuing a check or transferring a large amount.
Simply put
With a dual signature no single person can pay out money alone, so fraud is harder and errors fall because a second pair of eyes reviews the transaction.
It is usually applied above a certain amount so it does not slow down small transactions, and it is set up both with the bank and in the delegation of authority matrix.
Example
A contracting establishment requires the bank to have both the owner and the finance manager sign any check or transfer above 50,000 SAR, while one signature is enough for smaller amounts.
Don't confuse it with
Segregation of dutiesSegregation of duties spreads the stages of a transaction across different people, while a dual signature brings two people together on a single stage.