Auditing

Q. If a hotel restaurant’s charge comes through on a credit card statement under the hotel’s name, would a detailed receipt be required by the IRS to substantiate a meal that is under… Read More

Q. What is the required IRS documentation for mileage reimbursement for employees submitting an expense report for mileage? Is there a form the employee should fill out with the starting mileage,… Read More

Q. We are reviewing our company's policy on non tax parking reimbursement (transit 132). Are receipts required for reimbursement or will a monthly credit card charge suffice? A. (Answered by a 3rd… Read More

Q. We require actual receipts to reimburse employees for their meals. However, can we stipulate the maximum amount that we will reimburse with actual receipts? We want to continue to reimburse an… Read More

Q. When submitting expenses for reimbursements that include meals, is it an IRS requirement to include the type of meal (ie breakfast, lunch, or dinner), and do you need to supply the names AND… Read More

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

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