What Is the Role of Internal Audit in Fraud Risk Management?

SAP Concur blog emphasizes the importance of internal audit in fraud risk management, especially in travel and expense management. Modern auditing has evolved from traditional compliance to a proactive strategy for identifying and mitigating fraud risks. Automated tools like SAP Concur provide real-time analytics and enhanced visibility to monitor spending behavior. The article lists common fraud types such as mischaracterized expenses, falsified claims, inflated claims, and multiple claims, and suggests best practices including automated solutions, clear policies, regular audits, employee training, and data analytics.