Our Financial Statement Preparation Policy outlines a framework for the preparation and reporting of financial statements within an organization. It includes detailed policies and procedures to ensure the quality and accuracy of financial disclosures made in quarterly and annual public filings with the U.S. Securities and Exchange Commission (SEC). This tool details the roles and responsibilities of various parties involved in the financial reporting process, including document administrators, financial reporting team members, subject-matter experts and legal staff. Each component within the management's discussion and analysis, as well as other notes, is prepared and analyzed by a financial reporting team member with input and validation from subject-matter experts.

This document includes two samples. Sample 1 focuses on the monthly financial reporting requirements for subsidiary locations, detailing the specific schedules and formats that must be used to report financial information to the parent company. This ensures consistency and compliance across all subsidiaries. Sample 2 emphasizes the procedures for preparing and validating the financial statements for SEC filings, including the steps for updating prior reports, validating information with subject-matter experts, and conducting multiple reviews by legal staff and financial reporting directors. This document also outlines the responsibilities of the financial reporting team in ensuring that all information is accurate, properly documented and compliant with regulatory standards before final submission to the SEC.

Sample procedures include:

• The document administrator puts a copy of the prior financial reporting period’s final report into the draft/current directory.
• The SMEs update the sections with new information and send the sections back to the responsible financial reporting team member.
• The EDGAR files are filed with the SEC.
• Financial reporting team members finalize workpaper support and file papers.