Approving Purchasing Card Transactions

Fraud Prevention Tip #38: Approving Purchasing Card Transactions – Good Questions to Ask

The use of Purchasing cards or P-Cards for small dollar transactions makes a lot of sense. The cost per transaction is significantly less than that incurred when a requisition, purchase order, invoice and check payment takes place. But with the convenience of P-Cards comes an elevated risk of abuse and fraud. Compounding the risk is […]

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Approving Travel and Entertainment Expenses

Fraud Prevention Tip #37: Approving Travel and Entertainment Expenses – Good Questions to Ask

Many employees, contractors and consultants incur travel, entertainment and other out of pocket costs while on business trips. And fraud and abuse in out of pocket reimbursement is a well-known concern. We’re expected to know the details of these trips in sufficient depth to be able to competently review the expenses submitted for reimbursement. That’s […]

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Busy Middle Managers

Fraud Prevention Tip #16: Avoid Common Mistakes

Over and over, year after year I see the same anti-fraud mistakes. Leaders are willing. They take the correct first steps to fight fraud. They speak the right words and make the right initial commitment to get anti-fraud efforts off the ground. Then they trip themselves up and undermine their own efforts by making the […]

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fraud risk assessment

Fraud Prevention Tip #14: Perform a Useful Fraud Risk Assessment

At least twice every week, a seminar participant will ask about how to conduct a useful fraud risk assessment. Here’s why. Starting with the Sarbanes-Oxley Act in 2002, regulatory initiatives have suggested or required organizations to perform a ‘fraud risk assessment’. Unfortunately, there’s minimal guidance out there on exactly what’s involved and how far to […]

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Fraud Prevention Tip #8: State Anti-Fraud Expectations

Fraud Prevention Tip #8: State Anti-Fraud Expectations

This simple no-cost tip is missed by the majority of organizations. From the CEO down to first level supervisors, anti-fraud expectations must be said out loud. Make it a requirement that during a staff meeting every supervisor share their personal expectations with their subordinates. While discussion tailored to each supervisor’s own beliefs works best, here […]

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