Corporate Sustainability Certification: Financial

Today's organisations understand the interrelationship between financial responsibility and the sustainability of the organisation. The Intertek Sustainability Financial standard brings these requirements together, challenging the organisation to evaluate their business financial practices, including robust financial planning, monitoring of performance against planned outcomes and monitoring external supply chain practices, clearly demonstrating the organisation is planning for the long-term sustainability.

The Financial standard will drive the organisation to ensure sound financial practices drive the sustainability of the business at every phase of short- and long-term planning and execution. This holistic approach to financial planning and execution will help establish the organisation’s leadership position in the industry while demonstrating Integrity of Process and Accounts.

The standard is divided into six main sections; Management Systems, Financial Planning and Analysis, Treasury, Capital Allocations, Management and Control, Internal Controls and Audit Function and Audited Financial Results.

 
Evaluates basic management systems in place within the organisation, such as policies and procedures, leadership, risk assessment, failure analysis, corrective and preventive action, continuous improvement and supply chain development.
Evaluates how the organisation aligns financial planning, budgeting and forecasting with business sustainability goals and objectives.
Ensures short and long term funding management is in compliance with defined policies, including managing exposure related to trading and foreign exchange.
Ensures capital allocations for organisational strategy, merger and acquisitions strategy, expenditures, research and development and sustainability are aligned to support achieving corporate strategy.
Evaluates how the organisation controls its activities through defined responsibilities, training and qualification, delegation of authorities and monitoring for compliance.
Evaluates how internal controls ensure compliance with all company and legal requirements through internal audits, including publishing financial results to stakeholders, demonstrating alignment with the organisation’s needs.
 

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