Controls, Policies and Procedures Manuals

A important step for any small business owner is to implement properly designed internal controls.

Internal Controls help ensure that;


  • Business is conducted efficiently
  • Assets are safeguarded
  • Fraud and other unlawful acts are prevented and detected
  • Finincial records are accurate and complete
  • Financial statements are prepared on a timely basis

Policies and procedures provide a guide for meeting organizational objectives and describe the steps that employees are to take when creating a product or delivering a service.

This ensures consistency in practice and helps to maintain product quality.  A policy will set the expectation for employee behaviors and the procedure outlines the steps for it.

Policies and procedures help ensure that;


  • tasks are completed efficierntlty and consistently
  • there is documented recourse available to train new staff
  • experiences and lessons are incorporated and passed down to new/future employees
  • performance can be measured by determining if the process was followed appropriately

Documenting controls, policies and procedures is important for accreditations like ISO.

Example of a Financial Policies and Procedures Manual
Fin Processes Procedures Manual.pdf
Adobe Acrobat document [1.3 MB]
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