1. INTRODUCTION
This Financial Management Policy is designed for Central Equatoria Business Union
(CEBU), a forum for businesses in South Sudan. The policy aims to ensure the
effective, efficient, and accountable use of the Union’s financial resources, in
compliance with legal and regulatory requirements.

2. OBJECTIVES
The policy provides a framework for managing CEBU’s financial resources, including budgeting, accounting, auditing, financial reporting, and internal controls. It
aims to ensure financial sustainability, transparency, and accountability.

3. FINANCIAL PLANNING AND BUDGETING
3.1 All financial planning should align with CEBU’s strategic objectives. 3.2 An annual budget will be prepared and approved by the Board of Directors. 3.3 The budget will include all projected income and expenses for the fiscal year. 4. ACCOUNTING AND RECORD KEEPING
4.1 CEBU will maintain accurate and complete financial records in accordance with
generally accepted accounting principles. 4.2 All financial transactions will be recorded promptly and accurately. 4.3 Financial records will be kept for a minimum of seven years.

5. AUDITING
5.1 An annual audit will be conducted by an independent, certified public accountant. 5.2 The audit will review CEBU’s financial statements, internal controls, and
compliance with this policy. 6. FINANCIAL REPORTING
6.1 Regular financial reports will be prepared and presented to the Board of Directors. 6.2 Financial reports will include a comparison of actual income and expenses with
the budget, and an explanation of any significant variances.

7. INTERNAL CONTROLS
7.1 CEBU will maintain a system of internal controls to safeguard its assets and
ensure the accuracy and reliability of its financial records.
7.2 Duties such as authorizing transactions, recording transactions, and maintaining
custody of assets will be segregated to prevent fraud and error.

8. RISK MANAGEMENT
8.1 CEBU will identify and manage financial risks, such as the risk of fraud, the risk
of loss of income, and the risk of unexpected expenses. 8.2 CEBU will maintain adequate insurance coverage to mitigate financial risks.

9. COMPLIANCE
9.1 CEBU will comply with all applicable laws and regulations related to financial
management. 9.2 Any violations of this policy will be investigated and may result in disciplinary
action.

10. REVIEW OF POLICY
This policy will be reviewed at least every two years, or more frequently if necessary, to ensure it remains relevant and effective.

11. APPROVAL
This Financial Management Policy has been approved by the Board of Directors of
the Central Equatoria Business