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Financial Policies and Procedures

Work Details

Client: A long-standing shipping and logistics conglomerate, keen to cultivate a culture of robust smart practices across all group companies.
Assignment: IdealMC developed financial policies and SOPs for all their companies keeping in mind their differing business environments and needs. We standardized key financial reporting norms for all their entities for efficient corporate governance.
IdealMC designed and delivered a suite of policy and procedure manuals in a record time of 7 months, covering:
- Accounting
- Treasury and cash handling
- Credit

Business benefits

These manuals
- Serve as an handy guide for all financial processes
- Eliminate guess work and mistakes
- Help reduce accounting supervision
- Serve as a standard orientation guide for new hires and audit staff
- Spell out the delegation of financial authorities.

IdealMC was subsequently invited to conduct an internal audit to ensure compliance with the SOPs.

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