SAP Concur Highlights the Importance of Expense Audits to Prevent Fraudulent Claims
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For corporate finance and compliance managers, this article highlights the importance of automated expense audits in preventing revenue leakage and ensuring policy compliance. It reminds businesses that even small-scale expense abuse can significantly impact profits when accumulated.
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- SAP Concur BlogSAP Concur Highlights the Importance of Expense Audits to Prevent Fraudulent Claims
A SAP Concur blog post uses a fictional story to highlight the impact of expense fraud on businesses and introduces its Concur Audit service. Citing data from the Association of Certified Fraud Examiners, the article notes that a typical organization loses up to 5% of its annual revenue to occupational fraud. It lists outlandish items employees have tried to expense (like wedding costs, spa trips, teeth whitening) and notes that even small violations (like mixing personal purchases into a meal) can add up. Concur Audit offers an unbiased audit service to check up to 100% of claims and receipts.