This Financial Policy Development Policy serves as a vital resource for establishing strong financial governance. Designed to streamline the creation, revision and approval of financial policies, this tool ensures consistency across departments while aligning with corporate objectives and regulatory requirements. By providing a structured framework, it empowers decision-makers to develop policies that are clear, compliant and tailored to both immediate and long-term organizational needs. This approach enhances accountability and supports strategic alignment, making it an indispensable asset for businesses seeking to maintain financial discipline and operational efficiency.

This document includes two samples that illustrate the application of its guidelines. Sample 1 focuses on creating financial policies specific to corporate and operating levels, emphasizing compliance, clarity and alignment with company goals. It introduces a standardized template that ensures uniformity and ease of implementation. Sample 2 broadens the scope, detailing the procedure for submitting and revising financial policies, including roles, responsibilities and approval workflows. Both samples collectively provide actionable insights into developing effective financial policies.

Sample procedures include:

• Financial policies should focus on broad, long-range and repetitive financial matters.
• The compliance requirement references should be posted online.
• All operating company and corporate financial policies should be reviewed immediately following a corresponding corporate financial policy revision.
• The process owner is responsible for preparing the standard policy template.