A Report on Travel and Expense Audit Best Practices

At SAP Concur, we receive a lot of questions about the best way to audit expense claims. Often the approaches to audit vary greatly by industry and company culture.

It doesn’t have to be confusing. In this report, we hope to provide a clear perspective that can help every business identify ways to improve their audit process.

REDUCING COSTS AND IMPROVING COMPLIANCE
When managing travel and expense programmes, you’re faced with different challenges every day. New employees, policies, acquisitions and ever-changing regulations need to be managed. As a result, controlling costs and compliance is a top priority. You have a responsibility to follow accounting regulations. Traditionally, capturing and substantiating expenditure details and receipts is an intricate part of the process. You then have a further responsibility to see that the travel and expense management policies you’ve put in place are being followed. Throughout it all, you also have to ensure you are adhering to a range of ever-changing tax regulations. Ultimately, with your audit programme, you should achieve internal oversight and control. It’s deciding where and how to put them into practice that can be tricky.