SAP Concur: Purpose, Benefits and Preparation for External Audits
A SAP Concur blog post explains external audits—independent assessments of financial statements, records and internal controls by third parties—to validate process accuracy and identify improvement areas. It says external audits can enhance financial transparency, ensure compliance, validate internal controls and support decision-making. It lists audit steps including planning and preparation, data collection and review, evaluation of internal controls, substantive testing, reporting and recommendations, and follow-up and remediation. It notes 94% of executives agree advanced technology can promote audit quality, and automating internal audit processes is 36% more efficient for expense repo…
Impact and considerations
The post provides a process framework and technology benefit data for external audits, helping finance and travel managers assess the value of expense report automation for audit readiness and compliance.
Key points
- External audits are independent assessments of financial statements, records and internal controls by third parties.
- Benefits include enhanced financial transparency, ensured compliance, validated internal controls and more confident decision-making.
- Audit steps include planning and preparation, data collection and review, evaluation of internal controls, substantive testing, reporting and recommendations, and follow-up and remediation.
- 94% of executives agree advanced technology can promote audit quality.
- Automating internal audit processes is 36% more efficient for expense report intake and handling and results in 65% more compliant expense reports.
- Preparation points include collaboration, organized records, segregation of duties, audit trails and automation technology.
Sources and time
- Primary source
- SAP Concur
- Other sources
- 0
- First source publication
- 4 Jun 2024, 18:33
- Page published
- 14 Aug 2026, 08:14
- Last updated
- 4 Jun 2024, 18:33
- Original links
- SAP Concur Blog：Understanding the Purpose and Benefits of External Audits (opens in a new tab)Primary source · en · Published 4 Jun 2024, 18:33