How Concur Audit Service helps you prevent fraud

Concur recognized long ago that the tactical functions of a physical audit can be cumbersome, time consuming and costly. To help you save time and increase efficiency, we created an Audit Service that provides you with support specifically around the expense report process.

The sole focus of our Audit Service is to understand your corporate travel and expense policy inside and out. Your travel and entertainment expense transactions are verified against the criteria that you pre-define so that you still maintain the control your company needs. With your pre-defined audit rules in place, you’re assured that your company’s personalized business rules are followed each and every time we audit.

Plus, our auditing experts give you the reporting information that you’re looking for—information that will help you make decisions, identify trends, and help enforce compliance.

This happens in multiple ways.

 

Systemic Factor

First, we developed what we refer to as the “systemic factor.” Our service platform is capable of managing most of your business rules automatically through the configuration of compliance controls. This provides immediate feedback sometimes even before the trip is booked!

The systemic factor is both preventive and directive—it helps stop misuse and abuse before it happens. So, with the Concur Expense solution you have already taken steps to help reduce your risk.

 

Human Factor

https://www.concur.com/sites/default/files/fraud-receipt.jpgSecond, even though the systemic factor is a powerful preventative tool, nothing quite compares to the “human factor.” Receipt substantiation, validation and inspection are all part of the physical audit review—all activities that require attention, time and expertise. For instance, the system might be able to alert you if an expense is over a certain limit, but it can’t inspect a receipt to identify that the office supply receipt for $89.82 included $40.00 cash back. Only the human factor can do that.

Having dedicated, unbiased professionals on your side can lead to not just peace of mind but should they discover a discrepancy, they deal directly with your end users to resolve it.

Concur offers two levels of service to support the kind of inspection you would like to conduct.

 

  • Receipt Audit provides substantiation and validation of expense report line items to the submitted receipt. It has the ability to ensure that items are appropriately classified, have correct tax treatment and meet most regulatory guidelines such as the Internal Revenue Service or Revenue Canada.
  • Policy Audit provides all the benefits of Receipt Audit and adds an additional level of review against your specific corporate travel and expense policy by reviewing the receipt detail and any additional required documentation.

Whatever your method—either doing it yourself or hiring an expert—make a commitment to establish an audit function within your organization. A missing $10 or $20 here and there might not seem like significant amounts, but it all adds up over time. And larger amounts connected to expense fraud can be caught before they become financially damaging to your company—in the auditing process. Don’t let fraud, misuse or abuse get the best of you. Take action to be ahead of the game.

 

If you would like to learn more about our Expense Report Auditing services, contact your Concur representative.

Loading next article