11.1 Financial Stability
The financial stability of the IEEE is based upon,
but not limited to, a sound system of internal
control and a commitment to prudence in order to
ensure short-term and long-term viability.
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Internal Control. It is the IEEE
policy to maintain sound internal control.
As part of their oversight responsibilities,
specific staff and the external auditors
evaluate the system of internal controls of
the IEEE and recommend changes to IEEE
Management and or the Audit Committee who in
turn recommend changes to the IEEE Board of
Directors, as appropriate.
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Reasonable and Prudent Operations.
It is IEEE policy to operate reasonably and
prudently. The standard by which all
aspects of operations of a not-for-profit
organization are tested is reasonableness and prudence.
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Financial Outlook. To be committed
to its goals, the management of the IEEE, both
volunteer and staff, shall take an approach
that looks beyond specific calendar dates and
always considers where the IEEE is going and
where it has been with a distinct emphasis on
the future. The strategic planning
process, budget process, and actual financial
performance shall provide the framework for
making decisions important to the vitality of
the IEEE.
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