Users' questions

What is an FCCA audit?

What is an FCCA audit?

Factory Capability & Capacity Audit (FCCA) FCCA is applicable to all Direct Import Factories (Non-Food and Non-Packaging) FCCA is required prior to order commitment for new factories of all Supplier classifications & Retail Markets and is part of the three Pre-Qualification Audits (RS, SCS & FCCA).

What is Walmart audit?

Walmart’s expectation of compliance with our Standards for Suppliers extends throughout the supply chain. We use third-party social, safety and environmental compliance audits to help us evaluate our suppliers’ overall compliance and to manage risk in the supply chain.

What is pre audit checklist?

The pre-audit checklist allows you to determine how much of the MSC Chain of Custody (CoC) Standard: Default Version your organisation currently meets and where you will need to make adjust your operations before the certification audit to ensure full compliance.

How do you become FCCA?

You can become an FCCA after 5 years of continuous membership of ACCA (Association of Chartered Certified Accountants), by paying your annual subscriptions and meeting the CPD requirements each year.

How do I audit at Walmart?

Suppliers required to submit an audit must work with an eligible program, follow the program’s directions to schedule an audit, and send the completed audit report to Walmart. Walmart assesses the findings in each facility audit report submitted to Walmart against our Standards for Suppliers.

What accounting standards does Walmart use?

Ranked number 1 on the Fortune 500 list, Walmart is the world’s largest organization with more than 500 billion in annual revenue, 2.2 million employees, and 11,000 thousand stores. In 2016, Walmart initiated its compliance project for the IFRS 16 and ASC 842 lease accounting standards.

How do you create an audit checklist?

How to Prepare a Checklist for an Audit

  1. Sketch out the main subject headings for the audit checklist to help paint a picture of the necessary pieces of an audit.
  2. Place management topics under the “Management” subject heading.
  3. Place topics and functions related to financial operations under the “Finance” subject heading.

What’s the difference between FCA and FCCA?

The difference between ACCA/FCCA and ACA/FCA, is the F means Fellow whereas A means Associate – an F will have been a member longer and have more experience.

Who is responsible for FCCA audits for Walmart?

All FCCA audits will be conducted by Walmart designated 3 rd Party Audit companies at the supplier’s cost. All Walmart Direct Import Suppliers (Non-Food and Non-Packaging) are responsible to book the audit early as possible, and promptly pay the audit fee in advance.

Why does Walmart need a factory capacity audit?

It aims to identify effectively and exactly the production capacity or capacity of a new or current factory and help the factory develop a realistic quality system, reduce quality problems, and improve production efficiency and product value. Walmart required all its new and current suppliers to participate in the FCCA program.

When was the first Wal-mart supply chain security audit?

In addition to FCCA, we also participated in the Wal-Mart Supply Chain Security Audit for the first time in March 2013. We also successfully passed and obtained a high mark of 94 out of 100.

What are the requirements to do business with Walmart?

Doing business with Walmart requires making your products, facilities, and records available for audits, inspections, and tests. You must obtain required audits, inspections, and tests in accordance with Walmart policy and provide the results to Walmart, collaborating with Walmart to resolve any issues.