Whether it's a deliberate attempt to inflate reimbursements, or a genuine mistake on the part of employees, expenses fraud can have a severe effect on an organisation's operations.
In this one-day, in-house workshop, you will learn how to harness the power of IDEA Data Analytics to identify and tackle expenses fraud of several kinds. There are four major types of expense reimbursement fraud i.e. the making of improper claims for the reimbursement of business expenses.
- Mischaracterised expenses, where an employee requests reimbursement for a personal expense, claiming the expense to be business-related
- Inflated expenses, where an employee overstates the cost of actual expenses and seeks reimbursement
- False expense, where an employee invents a purchase and seeks reimbursement
- Multiple claims, where an employee submits a single expense for reimbursement multiple times.
Delegates should be fully conversant with the CIDA foundation level functionality covered in CI101 Introduction to IDEA Data Analysis.
RED FLAGS for False Reimbursement:
- Employees claiming high-value items on expense reports, without an original receipt as the items were paid for in cash
- An employee might ask a supervisor in another department to sign off on expense reports
- Patterns where expenses are consistently for the same amount
- Expenses that are consistently rounded off, ending in a “0” or “5”
- Meals and entertainment expense reimbursement requests coincide with an employee’s holidays or time off sick etc.
- In instances where only expenses above a certain amount require original documentation, an employee consistently submits expense reports for just under that threshold.
OTHER STANDARD TESTS
- Periodic analysis of expense accounts using historical comparisons or comparisons with budgeted amounts
- Expense limits – checking on expenses such as hotels, meals and entertainment.
Who should attend?
The course is aimed at External Auditors, Internal Auditors, Data Analysts and all those charged with inspection and /or analysis of Payroll / Expenses data.
Fill out the form on this page to enquire for more details and to book.