An expense policy and procedure is a set of rules and regulations that guide an organization’s process for assessing and approving expenses. These policies ensure that all employees are held to the same standards when it comes to incurring expenses, and promote spending accountability throughout the company. It also sets out what expenses the company will reimburse, how these costs should be monitored and reported, and how any disputes should be handled. Ultimately, a good expense policy and procedure helps an organization keep costs under control and run more efficiently – without compromising on quality.