HFA Corporate And Financial Governance
Following an article published by Sharia Watch titled ‘Food prepared according to Sharia Law’ (published in April 12th 2014), the Halal Food Authority (HFA) would like to shed more light on our corporate and financial governance to ensure the industry, as well as consumers, that we do not dispense any of our finances to untoward activities or bodies.
Sharia Watch UK stated that they are concerned about the growth of the halal food industry because “funds from the halal industry are being used by Islamist groups to enhance the power of Sharia law in Britain and around the world” and that “Halal funds are, at least in part, helping to fund Islamist terrorism globally”. It is not the right of the HFA to contest the ideologies and opinions that others possess but we would like to make clear that under no circumstances do the above beliefs apply to our day-to-day governance or our body in its entirety.
As a company that has been serving the Muslim community and the halal industry for twenty years, we would like to make it clear that if other parties working in the Halal industry are aiding Islamist terrorism globally, this is fully condemned and looked at with disgust by the HFA. We are a body that work tirelessly to facilitate, support and enhance halal trade globally especially to UK/ EU exporters and our integrity is of the utmost importance to us.
The HFA are governed by a team of voluntary trustees and we receive no foreign aid, nor do we distribute our generated funds in any way (internally OR externally). The HFA shall have an independent budget financed from the following resources:
The subscription and fees charged by the HFA in return for the services provided such as Halal audit for up to a full man-day. Certification proposal that contains certification fees will be provided upon receiving completed application form online.
Sponsorships and fees received for conference or training conducted which do not compromise the HFA Impartiality at all.
Other resources as determined by the Board of Directors.
The utilisation of the income received from any source shall be applied solely towards the achieving of the visions and responsibilities of the HFA.
All HFA surplus and yields directly go back to the Halal Food Foundation (HFF), the charitable arm of the HFA. The HFF is a registered UK charity concerned with education, outreach work, making bonds within the Muslim community and creating awareness on leading a halal and healthy lifestyle.
Funds attributed to our charitable arm are used for educational purposes and of course reserved for potential educational projects, events and workshops that are to be governed by the charity in the future.
Statutory accounts that kept records about the company, and financial and accounting records get prepared from the HFA’s financial records at the end of financial year. Statutory accounts must include the following items:
a ‘balance sheet’, which shows the value of everything the company owns, owes and is owed on the last day of the financial year;
a ‘profit and loss account’, which shows the company’s sales, running costs and the profit or loss it has made over the financial year;
notes about the accounts; and
a director’s report
Delegated Authority Policies
The HFA shall have a Finance Policies and Procedures Manual covering its day-today operations and activities. The list of delegated authorities is prepared and maintained by the Financial Controller, approved by the Chief Executive and Chairman and acknowledged by all employees.