Expense report of the future reduces fraud and headaches
26 Mar 2019

It sounds like it should have been impossible to miss, but it took more than a year for an industrial equipment company to discover $12,000 worth of doggie day spa charges on an employee’s expense reports.

Level upon level of corporate management also failed to detect that the same employee was running a scheme to sell more than $200,000 in company equipment on eBay.

Only a fraction of expense reports are closely examined, so it is no wonder that companies experience more than $7 billion in annual losses from fraud, according to the Association of Certified Fraud Examiners.

By Beth Pinsker, Reuters, 25 March 2019

Link to Reuters

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