Auditing and Examining Travel and Entertainment Expenses: Expense Reimbursement Fraud

  EVENT DATE

September 27, 2017

  PRESENTER(s)

Lynn Fountain

  1:00 PM ET | 12:00 PM CT | 10:00 AM PT | 60 Minutes




DESCRIPTION



Although travel and entertainment expenses are often a small component of overall corporate expenditures, they are one of the highest inherent risk areas for inappropriate costs and fraud.  Expenditures are businessman's best friend but can be management or an auditor’s worst nightmare if not properly handled. This process area inherently provides prime opportunity for unauthorized or inappropriate and lavish expenditures by executives and personnel.  When this occurs, there is more than just dollars at stake for the company.  Uncontrolled and managed travel and entertainment expenditures can impact reputation, operations and compliance areas.

Regulators and many legislation suggest annual review of executive expenditures.  However this can be a risk laden area for compliance professionals to review due to the internal political ramifications.  In today's world of transparency and increasing frauds, management must learn that attention, monitoring and periodic review of travel and entertainment expenses is an important component of maintaining proper internal controls.

Course Objective:

If you are reviewing entertainment expenses and find discrepancies, how often do you hear management say “What’s the big deal?  Or How bad could it be?”  This is a prime indicator that there is a gap in understanding of the importance of simple internal controls and a sound control environment. With today's advanced technology and digital media one would think that tracking simple T&E expenditures would be efficient.  Yet with technological advancements comes new and innovative ways for individuals to side-step control procedures and “slip” the inadvertent expense through the system.

Session Highlights:

  • Why internal controls over T&E expenditures are a critical component of the control environment
  • The impact abuse of T&E can have on various risk areas
  • Areas of T&E abuse that often go unnoticed and can result in expenditure fraud
  • Identifying T&E red flags for fraud with data analytics
  • The role of technology in the advancement of control gaps
  • How to talk to management about identified findings

Who Should Attend:

  • CEO/CFO
  • Board Members
  • Internal Auditors
  • Compliance Professionals
  • Operational professionals
  • Finance Professionals

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