Q. What is the typical average percentage of invoices or dollar amounts that businesses audit? For example, 10% of invoices, invoices over $1K, etc. A. (Answered by the IOFM Advisory Panel) ----- We… Read More
Q. With the age of PayPal and other ways to pay for services, how do you confirm that an employee is submitting an expense that was charged to their personal account and not their company card?… Read More
Q. Our company is exploring options to move from prepay auditing of expense reports to post pay auditing to help streamline the process. What are the risks by doing this? Are companies doing this?… Read More

Q. (cont.) What are the 2018 requirements for providing adequate evidence of T&E expenses,

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Q. (cont.) However, we are revising our T&E policy to per diem rates and some reimbursements

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Quad Knopf Inc. is an engineering and environmental consulting firm located in Visalia, Calif. Keri Mitchell, APM, the accounting manager, processes AP for four locations at the 95-employee firm. As… Read More

During tough economic times, it’s more important than ever to control costs. Plus, employee fraud—check tampering, phony payments, and expense report trickery—tends to increase. Employee travel

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For travel and entertainment expenses, the IRS requires receipts for every expenditure of $75 or

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