Travel & Entertainment Expense Reimbursement Fraud: Detection and Prevention


Overview
Expense reimbursement fraud—encompassing the numerous forms of employee travel and entertainment (T&E) schemes as well as Purchasing Card (P-Card) fraud—costs organizations hundreds of thousands, if not millions of dollars per year. According to the Association of Certified Fraud Examiners (ACFE), expense reimbursement frauds result in a median loss of $26,000 per incident and represent 14.5% of all employee fraud. While many of these schemes are considered “immaterial”—such as claiming reimbursement for a personal meal ... charging a pay-per-view movie to a business-related hotel bill ... or inflating the cost of a taxi ride—management should not underestimate the cumulative cost of these thefts.

This webinar will summarize the main types of reimbursement fraud to be alert to, including several “real life” case studies. It will explain how to identify the red flags of possible reimbursement fraud, offer specific fraud-detection techniques and tests for these crimes and conclude with a rundown of proven anti-fraud controls.
 
The webinar will cover:

  • Types of T&E P-Card fraud and most common perpetrators
  • Red flags of T&E fraud to watch for
  • Latest best practices in early T&E fraud detection
  • T&E fraud prevention best practices
Objectives
  • Explore the common and not-so-common T&E fraud risks to your organization
  • ​Identify the most common T&E fraud perpetrators
  • Understand the red flags of potential or actual T&E and P-card fraud
  • Learn how to detect T&E and P-Card frauds quickly and efficiently
  • Understand best practices in minimizing your organization’s risk of falling victim to T&E fraud
Who will benefit by this webinar:
  •  Internal and external audit professionals
  •  Accounting and audit practitioners
  •  AP managers
  •  Senior financial management seeking to reduce their vulnerability to costly frauds 
  •  Procurement and payables specialists
  •  Compliance and ethics managers
  •  CFO’s/senior financial managers
Prerequisite
None

Preparation
No advance preparation required

Level of Knowledge
Basic

CPE Credit
2 Hours

Delivery Method  
Group Internet Based

NASBA Field of Study
Accounting

Author
Peter Goldman