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    The Expense Report Case: Possible Approach To Compliance Audit

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    amysilverberg
    The document outlines an approach to auditing an organization's expense report compliance by reviewing policies and procedures, sampling expense claims, and interviewing employees to verify that reimbursements are legitimate and properly approved, purchases are supported by receipts, and purchases are recorded accurately. It also suggests steps to audit how the expense policies were communicated and acknowledged by employees, including new hires, and ensuring managers and accounts payable are aware of current policies.

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    The Expense Report Case: Possible Approach To Compliance Audit

    Uploaded by

    amysilverberg
    16 views1 page
    The document outlines an approach to auditing an organization's expense report compliance by reviewing policies and procedures, sampling expense claims, and interviewing employees to verify that reimbursements are legitimate and properly approved, purchases are supported by receipts, and purchases are recorded accurately. It also suggests steps to audit how the expense policies were communicated and acknowledged by employees, including new hires, and ensuring managers and accounts payable are aware of current policies.

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    Auditing Case for textbook

    Original Title

    The Expense Report

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    © Attribution Non-Commercial (BY-NC)

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    The document outlines an approach to auditing an organization's expense report compliance by reviewing policies and procedures, sampling expense claims, and interviewing employees to verify that reimbursements are legitimate and properly approved, purchases are supported by receipts, and purchases are recorded accurately. It also suggests steps to audit how the expense policies were communicated and acknowledged by employees, including new hires, and ensuring managers and accounts payable are aware of current policies.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    16 views1 page

    The Expense Report Case: Possible Approach To Compliance Audit

    Uploaded by

    amysilverberg
    The document outlines an approach to auditing an organization's expense report compliance by reviewing policies and procedures, sampling expense claims, and interviewing employees to verify that reimbursements are legitimate and properly approved, purchases are supported by receipts, and purchases are recorded accurately. It also suggests steps to audit how the expense policies were communicated and acknowledged by employees, including new hires, and ensuring managers and accounts payable are aware of current policies.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
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    THE EXPENSE REPORT Case


    Possible approach to compliance audit: The main control objectives related to the compliance audit are to ensure that: Reimbursements are for legitimate and allowable purchases; Purchases are supported by receipts, Purchases are appropriately approved, and Purchases are recorded properly in the appropriate general ledger accounts. We will need to review in detail the policies and procedures. The audit will be performed on a random sample of expense claims. For roll-out: 1. Enquire as to how roll-out of procedures was communicated to employees. 2. Interview a sample of employees to: Verify the roll-out communication. Confirm that they are aware of the types of expenditures that are permitted under the policy. 3. Did they require all employees to sign the policy as written acknowledgement of their review. Can we test this? 4. How are new employees handled? 5. Enquire of Accounts Payable department and Managers to ensure that they are aware of the policy. 6. Ensure that the policy has been kept current. The policy should be updated for any changes and reviewed at least annually to ensure it is still valid. Is this being done?

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