This policy establishes procedures for developing new and revising existing financial policy statements.
All policies are to be in compliance with all applicable financial and accounting standards and other statutory regulations. Financial policies should focus on financial matters that are broad, long range and repetitive in nature. Financial policy statements shall be concise and clear in meaning, yet should be in sufficient detail to encompass all possible scenarios under which the company operates either currently or into the future. The level of documentation for all policy statements should be commensurate with the level of complexity and risk which the policy statement covers.