23/06/2015
_ It also discloses the suitability conditions of the entities FAES works with
_ With these measures, FAES shows once again its commitment to transparency
The Board of the FAES Foundation has approved in its ordinary meeting in June the Foundation's code of good governance and good management practice and the suitability conditions of the entities it works with. With both documents, which have been published on the Foundation's website, FAES shows once again its commitment to transparency and becomes one of the top political foundations in this field.
With this code of good governance and management, FAES ensures “strict compliance with the current legislation regarding the legal, economic and tax system of foundations, its activities, transparency and financial control”. In this regard, it commits itself to keep on publishing its goals and activities, the beneficiaries of its actions, its rules and the composition of its governing bodies. Additionally, it will continue to submit its accounts to an external audit, it will report on it and will make its activities public through the website www.fundacionfaes.org.
As for the publication of suitability accreditation of the entities it works with, “in the event that the Foundation provides funds freely, through the subscription to agreements or contracts to develop mutual projects or actions”, is part of the obligations that foundations have regarding the prevention of money laundering.
The approval of these documents shows once more the FAES Foundation’s proven transparency, which has been acknowledged in the subsequent reports 'Transparency, the best slogan' drawn up annually by the Commitment and Transparency Foundation. In fact, FAES is one of the only three organizations that reach the optimum transparency level, among the 39 that have been under study. In addition, these reports indicate that the Foundation comply with the legal requirement in making its financial statements public and in conducting and publishing an external audit of its accounts, and praise the information it provides about the results of its programs and activities.