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We audit an average of 75% of expense reports annually which account for roughly 95% of travel related expenses. travel and expense activities from July 1, 2013 to December 31, 2017. With us, you can: A receipt audit matches the associated expense to the date, amount, vendor, expense type, and receipt clarity. 9 Other related 5 Note, some departments did not have employees requesting travel reimbursement during the pay periods 13 and 14. Support your global tax regulations Ensure appropriate documentation is provided and verify item tax values match the supporting receipt for improved tax and regulatory compliance. Audit conducted a Travel and Training Expense Reporting Audit that covered the period of October 1, 2015 through September 30, 2017. The audit was part of Valley Metro’s Internal Audit annual audit plan for fiscal year 2017. Audit travel expenses with ease. These hidden costs can put a drain on company resources. The … Manage expenses before they occur, eliminate unnecessary spend, and ensure greater policy compliance. Save time and money when you automate your AP process. for each of the past three years. I would like to receive additional SAP Concur communications (by email and/or by phone). A receipt audit matches the associated expense to the date, amount, vendor, expense type, and receipt clarity. Revise the travel expense reimbursement ordinance. Select the expense reports that require an audit. Reset the status of an expense report. Aberdeen reports that less than two-thirds of organizations regularly conduct audits of expense reports.That’s a scary notion considering T&E is the second-largest corporate expense … A receipt audit matches the associated expense including date, amount, vendor, expense type, and receipt clarity. rentals are handled through travel expense reports. Review exception details, identify trends, and determine next steps during regular consulting sessions. Our testing revealed instances where mileage related expense reimbursement transactions were insufficiently documented to allow for appropriate recalculation and verification Reporting Reports help your business identify common issues that arise during the audit process so improvements can be made. Travel Expenses Audit Report For the period of January 1, 2016 through June 30, 2016 Brian K. Hurter, CPA Lancaster County Controller . Our team of global auditors offer receipt substantiation for every language available in Concur Travel & Expense. The Association of Certified Fraud Examiners reported in its 2012 Report to the Nations on Occupational Fraud and Abusethat approximately 14.5% of all asset misappropriations investigated involved expense reimbursement fraud.Keeping your organization safe from pilfering employees demands strong … Expense Report Audit, Auditing Travel Expenses - SAP Concur Australia You can approve an expense report without approving individual expenses only when the expense report status is Verify Receipts Received and the processing option for Required Receipts is blank. The Office of Auditing and Consulting Services has completed a limited-scope audit of Executive Travel and Entertainment Expenses. The risk that we usually have with the expense accounts is the material understatement of expenses. Pinal County Travel Expense Review Internal Audit Report Page 3 of 10 Process Summary and Key Statistics Travelers are required to complete the Travel Expense Request Form1. By using the Receipt Audit Service with your Concur Expense solution, our global team of auditors verify receipts and ensure compliance for you, and then provide you with detailed findings each month. I agree that SAP Concur shares my personal data within all SAP Concur outlined in the SAP Concur Privacy Statement. Fill in the below and a sales representative will contact you. Additionally, a percentage of expense reports with no flags are sampled. 6 There were no travel reimbursement forms processed for travel to Alaska or Hawaii during the time period sampled. This audit was performed to fulfill that requirement. In this audit we determined whether DOE complied with its SOPs and with the applicable Comptroller’s Directives regarding travel and conference expenses. Fill in the fields below and a sales representative will contact you. Have you used a SAP Concur product at a previous employer? So much so that many just skip it. We have received your request for information, and we will be in touch with you soon. SAP Concur integrates all your expense data, so you can manage spending wherever, whenever it happens. Based on our audit results, travel and training expense are being s incurred to allow for employee training and development. Try it for free now! audit process for travel and entertainment expenses incurred by the Chancellor and presidents." Expense Report Audit, Auditing Travel Expenses - SAP Concur South Africa Complete the form to have a sales representative contact you, or call +65 6664 4800 today. Internal Audit Report: Expenses 2007/08 Audit Ref: 822 Appendix 6g – Page 4 recommendation has been raised. The expense and receipt audit service with your Concur Expense solution can help you to increase cost savings and compliance through our team of global auditors. Today, 100% of our expense reports are manually reviewed. Effortlessly intuitive travel & expense management, and accounts payable automation. Ensure appropriate documentation is provided and verify item tax values match the supporting receipt for improved tax and regulatory compliance. Take advantage of our flexibility to support specific rules for different employee groups and address unique audit requirements. The objective of this audit was to provide assurance to Canadian Grain Commission management, stakeholders, and the Canadian public that effective controls are in place for travel, hospitality and conference expenses. Ensure that appropriate documentation is provided and verify that item tax values match the supporting receipt. I agree that Concur Technologies (Singapore) Pte Ltd. can use my name and contact details to communicate with me about SAP Concur products and industry topics and partners’ offers in accordance with the SAP Concur Privacy Statement. Empower employees with a suite of cutting-edge, fully-integrated spend management software solutions. For the remainder of the expense claim forms, all were fully completed by the claimants and authorised by an approved signatory, as identified in the approved list of … This audit was conducted in conformance with The Institute of Internal Auditors’ International Standards for the Professional Practice of Internal Auditing. From purchase requests to invoicing to payments. As per research from The Aberdeen Group, the average cost to process a single expense report is $20.65 and for organizations with visibility, the average cost is $12.51, or 39% lower. Errors and fraud are a fact of life in expense reporting. Give time back to your team by utilizing our team of global auditors to resolve exceptions directly with employees and provide day to day support for your administrator. Concur Technologies Singapore, 30 Pasir Panjang Road, #03-32, Mapletree Business City, Singapore 117440. Travel Expense Audit Report 7 Breakdown of travel expenses by expense type Average travel costs for total trip expenses, lodging, airfare and meals Top attended events/conferences Top ten travelers by costs Exhibit 1: Travel Expenses by Type Lodging, $124,095.84 Airfare, $55,264.84 Canceled Airfares, $1,667.51 Meals, $35,104.42 We have received your request for information, and we will be in touch with you soon. We usually perform the audit of expenses by testing various audit assertions including completeness, cut-off, accuracy, and occurrence. The report includes the following sections: Objective, Scope and Methodology, Background, and Audit … Improve tax and regulatory compliance Ensure that appropriate documentation is provided and verify that item tax values match the supporting receipt. Lancaster County Employee Travel Expenses Audit For the period of January 1, 2016 through June 30, 2016 TABLE OF CONTENTS Page(s) The expense and receipt audit service with your Concur Expense solution can help you to increase cost savings and compliance through our team of global auditors. travel expense and training travel costs represent over 50% of the Year 2016 employee expenses dollars reimbursed to employees, and 80% of the associated transactions. Better control T&E spend with Oversight's automated expense report audit solution. *. The first component of the form includes estimated expenses prior to booking travel … By using the expense and receipt audit service with your Concur Expense solution, your company can: A receipt audit matches the associated expense including date, amount, vendor, expense type, and receipt clarity. Our team of global auditors offer receipt validation and policy compliance for every language available in Concur Travel & Expense. The objective of our audit of travel expenses in the City and County of Denver was to determine whether travel expenses contained errors or evidence of fraud, either intentional or unintentional, and to evaluate the efficiency and effectiveness of the Controller’s Office’s system for processing these transactions. The average cost to process an expense report for a single night hotel stay is $58 and takes 20 minutes to complete. The audit requirements were expanded to include an audit of the Executive Travel and Entertainment (T&E) expenses incurred by each institution's executives. We undertook this audit of employee reimbursements because the Department of Finance relies on manual controls to identify unreconciled travel advances and errors such asemployees requesting reimbursement of expenses covered by per diem, duplicate reimbursements, or reimbursements for expenses paid for with a city credit card. Policy Audit adds an additional layer of review against your corporate travel and expense policy by reviewing receipt and expense details and flagging any discrepancies. In March 2016 Citizens implemented the “Business Expenses Not Related to Business Travel” to cover non- travel related expenses such as awards and recognitions, certification fees and subscriptions which are usually processed through an expense report or a check request. Expense Report Audit, Auditing Travel Expenses - SAP Concur However, one in five (19 percent) expense reports contain errors or missing information costing an additional $52 and 18 minutes to correct each expense report. The report can be used as a guide to identify situations where a traveling employee did not obtain a favorable rate. However, internal control weaknesses, such as an adequate review of in ravel T The expense and receipt audit service with your Concur Expense solution can help you to increase cost savings and compliance through our team of global auditors. Using IDEA, create a report that totals and averages expenses by type and year. I agree that SAP Concur shares my personal data with other SAP entities as outlined in the SAP Concur Privacy Statement. The purpose of this report is to communicate the results of the Travel and Entertainment Expense Internal Audit. Let our team of global auditors resolve exceptions directly with employees and provide day-to-day support for your administrator. Identify non-compliant expenses prior to reimbursement, Ensure all employees are compliant using independent auditors. Reduce the hours, effort, and costs put into the entire accounts payable process – from purchase request to invoice capture and payment. This audit makes five recommendations for improvement: 1. Travel and Expense Reporting Audit Work Program This tool contains two sample work programs that provide general steps organizations can use for performing a travel and expense (T&E) audit. One of the easiest ways to steal from a company is through expense reimbursements. Likewise, each audit may require different audit procedures to ensure that we can gather sufficient appropriate audit evidence to make a conclusion. © Copyright 2021 Concur Technologies, Inc. All rights reserved. The Department of Administration should … This is due to the understatement of expenses would make the company’s performance looks better than it actually is. 2. Integrating all of your expense data means that you can manage your company’s spend anywhere, anytime. Compare actual to budget and general ledger and then export a table for inclusion in the background information of the audit report and provide an advance copy for … Expense report audit has never been easier or more accurate. 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