There are many ways that companies may lose money through Time and Expense fraud – some intentional, others accidental. But, putting in place certain tests and ensuring employees know that all expenses are monitored could reduce losses related to non-supported expense reimbursements.
When we get past the basic functions that span all departments, we can dig deeper into the areas where the department needs to improve.
All expense policies have their own nuances, but there are some simple tests that we should include in every T&E audit analytics program.