In today’s globalized food industry, food safety isn’t just a regulatory requirement, it’s a strategic differentiator. Integrating food safety into the overall ERM framework enables organizations to go beyond compliance and unlock value.
The Singapore Food Agency (SFA) prioritizes risk-based inspections and enforcement focusing on high-risk areas like foodborne pathogens. Companies should align their risk assessments and internal controls accordingly.
The Canadian Food Inspection Agency (CFIA) emphasizes modernization and harmonization of regulations with international standards. Companies operating globally should ensure their systems adapt to evolving international guidelines.
The Food and Drug Administration (FDA) prioritizes preventative controls through the Food Safety Modernization Act (FSMA). Companies should focus on implementing hazard analysis and risk-based preventive controls (HARPC).
Recent emphasis on traceability and food safety standards through initiatives like the Food Safety and Standards Act (FSSAI) necessitates robust traceability systems and compliance with specific product standards.
Many ERM and IA functions are not geared up to provide adequate assurance in this complex domain–farm to table! If you are wondering where to start, you should strongly consider an FSMS Risk Assessment (RA) which anchors a holistic scanning beyond the factory walls and enabling a proactive brand risk mitigation.
Following are a few key focus areas for effective risk based FSMS:
IA plans can be developed to prioritize and deep dive on elements that have been flagged during FSMS-RA. To avoid silos, a good practice is to integrate into overall control-assessment framework.
Additionally, the following elements help unlocking value:
In our experience, these have led to improved operational efficiency and proactive risk mitigations including linking to lessons learnt.
Several food safety crisis have reminded us that it is an integral part of business risk management. When designed and executed well, this would enable a secure and sustainable business growth.
CEO & MD at Innowave360
Experienced Chief Internal Auditor, Chief Risk Officer and Controller – Large US, Europe and Asia listed MNCs
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