Our Financial Policy Development Policy provides a detailed framework for the creation and revision of financial policies within an organization. It aims to ensure that all financial policies and procedures are developed consistently across all departments. It outlines the purpose, scope and procedures for developing new financial policies and revising existing ones. It emphasizes that financial policies should align with the company's objectives and regulatory requirements, and must be clear, concise and comprehensive to cover various operational scenarios.

Sample 1 focuses on guidelines for creating negative financial policy statements. It highlights the need for financial policies to be created at both corporate and operating company levels, with corporate policies taking precedence. The sample details the required components of a standard policy template, including the title, policy number, revision dates, purpose, policy statement, compliance references, and designated policy owner. Sample 2 expands on this by establishing a broader scope for financial policy development, reinforcing the need for uniformity in policy creation. It specifies the submission process for new policies, requiring proposals to be directed to the CFO or designated finance personnel, and includes essential information such as the proposed title and policy objective. It also mandates regular reviews of policies to ensure they remain current and effective, with oversight provided by the CFO or designated personnel.

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.