Creating and Maintaining Accurate Records and Accounts
HOW WE WIN
We keep accurate records and accounts to help us operate effectively and to provide timely and truthful information to those who need to rely on it.
WHY WE PUT VALUES FIRST
As a publicly traded company, Johnson Controls is required to maintain and disclose accurate financial records. While a legal obligation, proper recordkeeping is also essential to efficient and profitable business operations. We all have a part to play in keeping records accurate and current; it helps us maintain the trust and confidence we’ve built with customers, investors and other stakeholders.
WHAT WINNING LOOKS LIKE
We maintain accurate records and accounts by:
- Recording all assets, liabilities, revenues, expenses and business transactions completely, accurately, in the proper period and in a timely manner
- Ensuring that records and accounts conform to generally accepted accounting principles and our internal controls system
- Never setting up secret or unrecorded cash funds or other assets or liabilities
- Using appropriate and accurate wording when creating records
- Never concealing or destroying documents or records that are subject to investigation or may be needed in legal proceedings
- Complying with legal hold notices
- Maintaining and eliminating Company records in compliance with our records retention and information management procedures
THINK FIRST
Q:
I’m aware that our records management policies call for us to delete certain records after a designated amount of time. I’ve been keeping all my records on one particular matter because I know there were problems locating documents in the past. Is this a good idea?
A:
No, you must conscientiously follow our records retention policies and schedules. These policies support the Company’s legitimate destruction of obsolete records, and failure to follow them could expose the Company to claims of selective destruction. Keeping records for too long can also overtax our storage systems and put sensitive or confidential information at risk of being accessed and misused. Furthermore, we may have a legal obligation to delete information that is no longer needed, like personal data or confidential information from a business partner. By retaining records according to our defined schedules, you strengthen our records management program and protect the Company.