Which aspect should not influence the development of informal financial policies?

The development of informal financial policies is primarily influenced by the internal dynamics and culture of the organization, as well as external factors such as market trends. Major guidelines from the board, however, represent formal governance structures and are typically part of the formal financial policies that guide an organization.

Informal financial policies are more about the unwritten rules and practices that develop within the organization, shaped by the organizational culture and power dynamics that dictate how things are done in practice. These policies often emerge from day-to-day operations and interactions among employees rather than being strictly outlined by official directives.

In contrast, major guidelines from the board are formalized rules and policies intended to govern the overall financial direction and strategic objectives of the organization. As such, they play a foundational role in shaping formal financial practices, rather than informal ones. Thus, they do not directly influence the informal policies which are more organically developed.