As for the test policy, there are no industry-standard for the contents of a test strategy but the following could be the possibly included.
1) Standards to be followed (e.g. those required for the defence, transport, pharmaceutical and banking industries to name a few, plus process standards such as the Capability Maturity Model (CMMI) and the International Organization for Standardization quality set - the ISO 9000 set).
2) Test levels to be used (such as increased emphasis on user acceptance testing in an iterative model, all levels in the V model).
3) Test types to be used (such as functional, structure-based, non-functional testing and experience-based).
4) Test design techniques to be used (such as equivalence partitioning, decision testing and error guessing).
5) Approach to retesting and regression testing (usually all changes will be retested, and regression cycles specified (e.g. weekly or by number of changes included)).
6) The amount of testing to be carried out on reused components (depending on the extent of reuse).
7) Entry and exit criteria to be used for each level of testing (such as 100 per cent decision coverage at unit and integration test levels).
8) Incident management (reporting, follow-up and analysis).
9) Definition of test environments to be used.
10) Use of tools to support testing.
The above list is not the ultimate one & may be modified according to the needs of the organization.