Expense fraud costs a median loss of $33,000 in each instance, according to Association of Certified Fraud Examiners (ACFE). Despite the nonchalant attitude of many employees, expense fraud is a crime that affects organizations large and small.
Creating an expense policy can be a time-consuming process; but when you consider that almost 20 percent of T&E expenses fall outside of policy, it makes sense to invest the time and effort. Here are some tips and a template to help you get started.
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