An expense report audit is essential to ensure excess spending by employees is addressed. Expense reports are where the most corporate fraud takes place. These documents should always be reviewed and investigated so a travel program can be enforced. By implementing a regularly scheduled expense report audit you can continually identify over spending, get to the root of the problem and address the employees and expenditures which need to be reviewed.
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Seven bottles of $300 wine. A $250 meal for one employee. Kegs of beer totaling $1,200. Manicures for dogs. Topaz International has uncovered these, and other startling expenses, in what CEO Bradley Seitz called the final link in the end-to-end travel chain—the Expense Report Audit. "This final step is crucial to making sure fraud is not happening as well as understanding what leakage your program is facing," Seitz said.
"What the audit did for us was really provide an ROI where we could say with confidence, 'This is what we're missing in our airline contracts; this is what we're missing in our preferred hotel programs.'"