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Small Business Digest


  
    May-2017
 
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Expense Account Fiddling Growing In Small Business Sector

Surprisingly, small firms are often the most put upon when it comes to travel expense fiddling.

In a recent survey by this newsletter’s parent, Information Strategies, Inc., 57% of 471 respondents said they had found problems with expense accounts from employees in the last two years.

In the nationwide survey, 13% said they had discharged an employee in the past two years who had falsified expenses. 

The biggest area of concern was local trips and other day trip outings where reimbursement requests were most often shown to be unwarranted.

Conventions and trade shows were also places where 51% said they had seen errors of commission or omission. 

In another unusual finding, 47% said these events occurred with employees who had been with the company for more than 2 years. 

“I was forced to fire a manager who had been with me since we started after she turned in false vouchers on four different occasions,” reported one respondent.

As a result of their experiences, 71% of respondents said they had tightened reimbursement policies during the past two years and 75% said they were checking expense sheets more carefully since the downturn.

The survey was conducted for www.travelforsmallbiz.com


© 2017, Information Strategies, Inc.
P.O. Box 315, Ridgefield, NJ 07657
201-242-0600