Finance processes and procedures are the formal rules and guidelines used to manage financial transactions, the movement of money between businesses and individuals, and ensure that related activities adhere to applicable laws and regulations. These processes and procedures are established to provide an efficient, cost-effective way of managing finances that ultimately lead to organizational success. Adhering to mandated financial processes and procedures helps organizations maintain trust with customers and creditors, produce accurate financial information for stakeholders, and operate within legal compliance requirements. It’s essential for businesses of all sizes to understand, design, implement, and audit their finance processes and procedures in order to mitigate risks, reduce costs, and achieve long-term growth.