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Accounts Payable Resources & Tools: Travel & Entertainment
In many organizations, travel and entertainment expenditures are the second largest controllable expense. No wonder it generates so much interest, although the attention is often hardly positive. Just ask one of our largest national institutins! That's because the opportunities for abuse are many and policies are often not clear.
Plus, almost 20% of all frauds involve expense reimbursements according to the Association of Certified Fraud examiners. In a recent survey of accounts payable professionals, 38% indicated they had encountered fraud in their expense reimbursement process in the last three years. The numbers tell a serious story; but that's just the start. While the dollars involved in T&E fraud may be smaller than some other frauds, it's often the way they are first detected.
To meet all these challenges Accounts Payable Now & Tomorrow created the Travel and Entertainment Best Practice Toolkit. The items can be purchased separately or as a set. It includes:
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