Financial Integrity and Transparency
Financially responsible supply management is characterized by integrity and transparency in all supply-related dealings and decisions.
In this context:
- Become knowledgeable of, and comply with, applicable laws and requirements for all communities, locations and markets in which the organization conducts business. This includes safeguarding the privacy and security of customer data.
- Apply sound financial practices and ensure transparency in financial dealings by implementing appropriate internal controls over accountability and governance for accurate financial reporting and financial disclosures.
- Seek training in financial subjects that relate to the responsibilities of supply management professionals.
- Understand and follow laws, regulations and trade agreements specific to countries where business is transacted.
- Involve the finance department early in analysis, planning and business decisions to identify and avoid financial issues.
- Seek legal and financial counsel and advice when conflicts may exist. Interpreting laws and accounting rules and regulations are the responsibility of legal and financial counsel.
- Actively promote and practice responsible financial behavior throughout the supply chain by making financial and sustainable guidelines explicit in supplier agreements.
- Center for Audit Quality (CAQ) is an autonomous, nonpartisan, nonprofit group based in Washington, D.C. It is governed by a Board that comprises leaders from the public company auditing firms, the American Institute of CPAs and the investor and issuer communities. Affiliated with the American Institute of CPAs., the organization was created to serve investors, public company auditors and the markets, with a mission to foster confidence in the audit process and to aid investors and the capital markets by advancing constructive suggestions for change rooted in the profession's core values of integrity, objectivity, honesty and trust.
- Clear Profit provides news and commentary on the role of investors in ensuring corporate responsibility. Clear Profit is a free, independent email newsletter containing news, features and opinion on investing for more than financial return.
- Ethical Corporation Magazine has provided business intelligence for sustainability since 2001. Ethical Corporation is 100% focused on global ethical business and how large companies are responding to the sustainable business agenda.
- Financial Executives International is an organization for senior-level financial executives dedicated to advancing ethical, responsible financial management. The site includes a code of ethics for its members and guidelines for writing a code of ethics.
- IFRS Foundation is an independent, not-for-profit private sector organization working in the public interest to develop a single set of high quality, understandable, enforceable and globally accepted international financial reporting standards (IFRSs) through its standard-setting body, the IASB; to promote the use and rigorous application of those standards; to take account of the financial reporting needs of emerging economies and small and medium-sized entities (SMEs); and to bring about convergence of national accounting standards and IFRSs to high quality solutions.
- Principles for Responsible Investment (PRI) provide a framework for investment businesses to indicate that they subscribe to principles that enable them to act in the best long-term interests of their beneficiaries. The six principles are based on the premise that environmental, social and corporate governance (ESG) issues can affect the performance of investment portfolios. The PRI is an initiative of the United Nations Environment Program Finance Initiative and the UN Global Compact. On its first anniversary in April 2007, the group announced that it has achieved over 180 leading institutional signatories from all round the globe, representing in excess of US$ 8 trillion in assets under management.
- Social Funds is a personal finance site that promotes socially responsible investing. The site provides links to news articles, a corporate research center, and links to guides on various investment topics.
- The Sarbanes-Oxley Act Community Forum is an interactive community portal designed to facilitate the exchange of information between those seeking to comply with the requirements of this legislation. It also provides useful resources and tips, including an FAQ area, a news section, and an online forum.
- Sarbanes-Oxley Compliance Journal features links to articles on numerous SOX topics including auditing, technology, finance, governance, law, and marketing, with convenient subheadings under each of these general topics. The site also includes a link to a newsletter, listing of events, and a CEO roundtable.
- Sarbanes-Oxley Financial and Accounting Disclosure Information provides links to news and current events regarding the Sarbanes-Oxley Act.