SAP Concur Publishes Best Practices Guide for Efficient Expense Audits
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The guide provides finance and compliance teams with practical expense audit recommendations and industry data, helping organizations optimize audit processes, reduce fraud risk, and improve compliance efficiency.
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- SAP Concur BlogSAP Concur Publishes Best Practices Guide for Efficient Expense Audits
SAP Concur published a blog on November 25, 2024, offering best practices and checklists for expense audits. It cites data that 13% of misappropriation fraud comes from expense reimbursement schemes, with median losses of $50,000. It recommends auditing every expense or focusing on high-risk areas such as cash purchases and frequent travelers; auditing before approval; mandating corporate cards; and integrating AI for compliance checks. It also lists success stories from Uber, PETRONAS, Penn State University, and Chobani.