Our Credit Card Policy offers a structured framework designed to help effectively manage and control the use of company-issued credit cards. By providing clear guidelines on authorized usage, expense documentation and internal controls, this tool serves as a critical resource for ensuring compliance with financial policies while safeguarding corporate assets. It emphasizes accountability at all levels, from employees to senior management, and outlines procedures that minimize the risk of misuse or fraud.  

This audit and compliance tool is divided into two samples, each tailored to address specific aspects of credit card management. Sample 1 focuses on the foundational purpose, scope and policy details, establishing ground rules for appropriate credit card use and emphasizing the importance of timely expense reporting. It highlights roles and responsibilities across departments, ensuring that every transaction is properly authorized and audited. Sample 2 delves deeper into the specifics of internal controls, outlining the responsibilities of key personnel such as CEOs, CFOs and accounting managers. It provides detailed procedures for card issuance, expense documentation and reconciliation, along with strict guidelines for allowed and prohibited expenses. Together, these samples offer a thorough approach to managing corporate credit cards, making this tool an indispensable resource for maintaining financial integrity.

Sample procedures include:

• Authorization for the issuance of a credit card can be obtained by initiating a Credit Card Request Form.
• All employee time and expense reports will be properly approved and signed by the employee’s supervisor, the accounting manager and the controller.
• Credit card transactions must comply with the delegation of authority policy.  
• Employees must provide the senior accountant with an itemized receipt within 90 days for all transactions made with their corporate credit card as well as a monthly expense report.