Our Financial Liability Policy

Ensuring financial stability, transparency, and operational continuity

Reliable Certification (SMC-Private) Limited Boards, Committees, Management and contractors are committed to ensuring financial stability and managing financial liabilities in a controlled, transparent, and legally compliant manner. The organization is financially supported by its Chief Executive Officer (CEO), who provides funding through personal and external resources to ensure continuity of operations and compliance with accreditation and regulatory requirements.

Reliable Certification (SMC-Private) Limited ensures that its financial arrangements and sources of funding do not compromise impartiality, objectivity, or integrity of certification activities. Financial risks, including those arising from funding dependencies, are identified and controlled in accordance with ISO/IEC 17021-1 requirements.

Reliable Certification (SMC-Private) Limited ensures that all financial liabilities are identified, recorded, monitored, and managed in a timely and professional manner to support uninterrupted certification activities.

The organization ensures that:

• Adequate financial resources are available at all times to support certification activities, accreditation requirements, and operational expenses.
• All financial liabilities, including payments to accreditation bodies, auditors, contractors, and suppliers, are settled within agreed timeframes.
• Financial support provided by the CEO is sufficient to ensure operational continuity and sustainability of certification activities.
• Financial arrangements, including funding sources, do not create conflicts of interest or compromise impartiality in certification decisions.

Reliable Certification (SMC-Private) Limited maintains appropriate controls to ensure that:

• Funds provided by the CEO are properly recorded, monitored, and utilized solely for business operations in a transparent manner.
• All financial transactions are documented and traceable in accordance with applicable legal, statutory, and accounting requirements.
• Financial commitments are authorized and approved by designated personnel in accordance with defined responsibilities and segregation of duties.
• Risks related to financial dependence, conflict of interest, and liability exposure are identified, evaluated, and controlled.

The organization ensures that:

• Payments related to accreditation fees, audit services, and operational expenses are made in a timely and professional manner to maintain accreditation status and operational continuity.
• Financial risks or constraints are identified, assessed, and managed through a risk-based approach to ensure uninterrupted certification activities.
• Financial planning and resource allocation are conducted to maintain long-term sustainability and compliance with accreditation requirements.

Reliable Certification (SMC-Private) Limited also ensures that:

• Financial liabilities arising from contractual obligations, legal requirements, or certification activities are effectively managed in accordance with applicable laws and agreements.
• The organization maintains sufficient financial stability and resources to cover liabilities arising from its certification operations, as required by ISO/IEC 17021-1.
• Confidentiality of financial and funding arrangements is maintained and protected from unauthorized access.

In case of any financial or liability-related issues:

• The matter is reviewed by top management, including the CEO, to determine appropriate actions without compromising impartiality.
• Necessary corrective and preventive actions are implemented to ensure continuity, compliance, and risk mitigation.
• All actions are documented and retained as records in accordance with internal procedures and accreditation requirements.

Reliable Certification (SMC-Private) Limited ensures that all personnel understand their responsibilities related to financial management, liability, and impartiality, and operate in compliance with ISO/IEC 17021-1, applicable legal requirements, and accreditation criteria.