Hubbell Policies

EXCESS AND OBSOLETE (E&O) WORKBOOK CHANGES POLICY

English

Owner : Vice President, Controller

Last Review: 2018.01.08

FIN - 50

Department: Finance

POLICY

This policy applies to the Kinaxis application. Kinaxis is used by most Hubbell Business Units to run the initial E&O calculation.

SCOPE

To apply the Kinaxis application that is used by most Hubbell Business Units to run the initial E&O calculation.

PURPOSE

The purpose of this procedure is to establish a standard process and controls for modifying the calculation logic within the E&O workbooks in Kinaxis which will eliminate the risk of unapproved changes. The governing requirement is SOX Standard GAC8: “An inventory is maintained to document completeness, the method used and actual periodic tests performed to verify the continued viability of all critical non-IT developed spreadsheets, databases and applications that include complex calculations or modelling to process financial information that will be incorporated into external financial statements.”

PROCEDURE

WORK INSTRUCTION

1. BU and Group Finance reviews proposed change with Corporate Controller or Assistant Corporate Controller. 2. BU and Group Finance requests a Service Desk ticket to change the parameters of an existing report. a. Service Desk ticket must include a copy of the email approval from Corporate Controller or Assistant Corporate Controller, and approval from the Group Controller. b. Request should include current parameters and changes required to those parameters using the Standard Request Form for E&O changes. c. Service Desk will assign the ticket to ‘HUB – HUBS – BW \ Kinaxis’. A BW \ Kinaxis team member will open the workbook, obtain the name of the Kinaxis Workbook Owner, and assign the ticket to them. 3. The Kinaxis Workbook Owner will modify the Kinaxis report per directions from Local Finance. 4. Once the workbook is updated, test files are generated to a specific date. The Kinaxis Workbook Owner sends an email to Local Finance to perform testing of the results. 5. Local Finance approves the results via e-mail communication with the Kinaxis Workbook Owner and attaches the email to the ticket. 6. The Workbook Owner moves the report to a shared file, and closes the ticket.

ADMINISTRATION

Roles and Responsibilities. It is the responsibility of BU and Group Finance to ensure these work instructions are performed as documented.

Monitoring, Evaluation and Review. None

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