Accounting and Finance Policies and Procedures
 

By Rose Hightower

Policies and procedures represent the foundation of internal controls for organizations. It is important they be clearly written, current, and comprehensive. The author provides an excellent framework for organizations to use in establishing and updating policies and procedures. The book begins with a chapter on how to use the book. The book is structured as a final product that is supported by a Web site containing all the sample documents in Microsoft Word format. Rose explains the steps before getting started, followed by getting started with the program, developing the table of contents and a self assessment exercise. The rest of the book is devoted to sample policies and procedures. There is a continuity of structure for each document which details the scope, the policy, control/areas of responsibility, and contact and exhibit if necessary. Internal auditors are sometimes in a position where they recommend that management update policies and procedures or create them where none exist. This book is an excellent resource that auditors can use to steer management to as an example of a structured approach to policy and procedure development.