Effective Strategies to Minimize Non-Compliance Risks in Business
SAP Concur's blog discusses non-compliance risks and mitigation strategies. Non-compliance can lead to financial, legal, and reputational risks, with ACFE citing lack of internal controls as the top reason. Companies can reduce risks through clear policies, formal approval workflows, automated compliance tools, and employee training. ACFE estimates occupational fraud causes 5% of revenue loss annually, with median loss of $145,500.
Impact and considerations
Non-compliance in corporate travel and expense management can lead to significant financial losses and reputational damage, making automated tools and clear policies essential.
Key points
- ACFE cites lack of internal controls as the top reason for non-compliance.
- Occupational fraud causes 5% of revenue loss annually, with median loss of $145,500.
- Automated compliance tools reduce human error and improve accuracy.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 31 Jul 2025, 20:29
- Page published
- 13 Aug 2026, 08:32
- Last updated
- 31 Jul 2025, 20:29
- Original links
- SAP Concur Blog：What Are the Risks of Non-Compliance and How Can Companies Mitigate Them? (opens in a new tab)Primary source · en · Published 31 Jul 2025, 20:29