Effectively Managing and Controlling Travel and Entertainment (T&E) Expenses
Author: Lynn Fountain
| CPE Credit: |
2 hours for CPAs |
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 a businessman's best friend but can also be management'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, more than just dollars are at stake for the company. Uncontrolled and poorly managed travel and entertainment expenditures can impact reputation, operations and compliance areas.
Publication Date: August 2024
Topics Covered
- T&E challenges as a process
- Fraud red flags in the T&E process
- The role of technology in managing travel and entertainment (T&E) expenses
- Automated expense tools
- Methods for evaluating T&E expenses
- Policy thoughts on T&E expenses
- Safeguards for T&E expenses
Learning Objectives
- Recognize the role of technology in managing travel and entertainment (T&E) expenses
- Identify automated expense tools
- Identify methods for evaluating T&E expenses
- Identify policy thoughts on T&E expenses
- Identify safeguards for T&E expenses
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)
Program Prerequisites
None
Advance Preparation
None
