Minimizing Expense Reimbursement Headaches Caused by the Traveler, the Manager, and Fraud (Completed)
Date: Wednesday, May 22, 2019
Instructor: Mary Schaeffer
||12:00pm Pacific Time
1:00pm Mountain Time
2:00pm Central Time
3:00pm Eastern Time
||2 hours for CPAs
In AP Now’s recent Travel & Entertainment survey, respondents identified their most pressing problems regarding employee expense report handling. Two clear factors emerged. First, the traditional expense reporting handling problems continue with no sign of improvement. Simultaneously, there is an emergence of new issues, sometimes related to new technology (think Uber). Only now are companies starting to identify these issues and create best practice policies around them.
What’s more, expense reimbursement fraud continues, unabated sometimes facilitated by less-than-stellar policies and procedures. In this session we’ll show you more than 15 different ways employees can and do play games with their expense reports along with ways to make sure you stop it. Most of the solutions are quite simple – as long as the organization utilizes best practices, which regrettably many don’t.
Who Should Attend
Accountants, controllers, accounting managers, auditors (internal and external), Treasurers, CFOs, CEOs, accounts payable professionals, payroll professionals, procure-to-pay professionals, and travel managers.
- Expense reimbursement fraud
- Missing receipts
- Employees who submit their expense reports late
- Manager who approve non-complaint expenses
- Slow manager approvals
- Extravagant or inappropriate T&E expenses
- Employee misuse of company card
- Employees who submit the same expense twice
- Employees who do not use approved Vendors
- Unused airline tickets
- Loyalty reward points
- Use of and accounting for new services such as Uber, Lyft, Airbnb etc.
- Recognize how to stop many expense reimbursement frauds
- Delineate best practices that will severely reduce other frauds
- Identify how to create a best practice policy to address use of Uber, Lyft etc.
- Recognize how to deduce the number of employees submitting expense reports late
- Design a policy to improve manager accountability for expense report approvals
- Build a policy that deals with employee misuse or abuse of the travel and entertainment policy
- Recognize how to best incentivize managers to approve in a more timely and appropriate manner
NASBA Field of Study
Accounting (2 hours)