Financial responsibility statement is generally prepared by the public companies to secure investor’s confidence. Investor is viewed as a key which is essential for the working and functioning of the global economy. This statement is issued to ensure that the company is following its ethical code of conduct and is governed by efficient and trustworthy leaders. It also lays emphasis on the internal practices and policies followed in the company. There is a special need to mention about the accounting practices followed in the organization and their compliance to it.
The main aim of the statement is to ensure the public that the company is safe option to invest and to inform the current investors that they have made a correct choice and the company is fulfilling all its responsibilities towards them.
Sample Financial Responsibility Statement
Ableto is a leading public company in U.K. The following are a part of its financial responsibility Statement:
- The company assumes a full responsibility for true and fair presentation of the financial statement which is prepared in accordance with the generally accepted accounting principles. We believe in providing timely, transparent, complete, accurate and relevant financial information.
- Our management with the help of the board of directors has established and maintains a very high morale and a righteous atmosphere so that the company’s processes and affairs are complied to the superior standards of professional and personal conduct.
- We have a very effective and efficient internal control system installed in the organization which enables high assurance to the correctness of the financial accounts and fiduciary responsibilities over the assets of the company.
- Our Audit report is in abidance with all the rules and regulations laid by the government.
- We have policies to ensure the independence of our BOD which are materially in line with the corporate governance requirements.
We are committed to ensure that we maintain a high standard financial accounting and reporting. We have full confidence in our systems which are fully objective in their responsibilities and maintain high ethical standards.