Fraud Prevention: Critical Questions for Reimbursement Requests

In today’s dynamic fraud landscape, asking some rudimentary questions during the reimbursement approval process can help companies manage risk and protect against ever-evolving threats. By scrutinizing each reimbursement request with a critical eye, organizations can identify and mitigate potentially fraudulent activities before they escalate into significant financial losses. This approach not only safeguards company assets but also fosters a culture of accountability and transparency among employees.

To streamline this process, companies should consider a structured set of questions covering the business purpose of the expense, the reasonableness of the claim, and the adequacy of documentation. Organizations should verify whether original receipts are attached, if the expenses align with company policies, and if the costs are reasonable given the company’s context. Additionally, questions tailored to expense reimbursements and credit card purchases can further enhance scrutiny by checking for duplicate expenses and assessing the appropriateness of cash transactions.

As a starting point, KSM has developed a resource which includes a list of questions for approving expense reimbursements and credit card purchase transactions. This practical tool helps organizations establish a robust fraud prevention framework, protecting their financial health and maintaining workplace trust. By incorporating these questions into the reimbursement approval process, companies can proactively address potential risks and promote a culture of integrity.

For further assistance and additional ideas on continuing your organization’s anti-fraud discussions, contact your KSM engagement team or complete this form.

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