Find Money FAST - Travel Entertainment and Expenses

Almost 20% of all frauds involve expense reimbursements according to the Association of Certified Fraud examiners. Furthermore, in a recent survey of accounts payable by professionals, 38% indicated they had encountered fraud in their expense reimbursement process in the last three years. ACL examines travel expense data to identify possible duplicate claims and excesses over daily limits.

Analytics

1. Examine travel expense data to identify possible duplicate claims. Duplicate processing criteria for same employee ID, same TE code, same date, same amount, same trip.
2. Examine travel expense claim data to identify claims in excess of daily limits, for example meal allowances.
3. Examine travel expense data to identify employees who consistently claim amounts just below approval thresholds.
4. Examine travel expense data for employees with status equal to terminated Match process between T&E data and HR employee master, terminated status.

Facts & Figures

Nearly 40% of companies report T&E error rates in excess of 5% of T&E expenditures [IOMA 2007].