According to the Association of Certified Fraud Examiners's report, “Occupational Fraud 2022: A Report to the Nations”, 11 percent of all asset misappropriation schemes were from expense reimbursement. The median loss per expense reimbursement scheme is $40,000. Although general expense reimbursement policies and procedures with related training are good anti-fraud controls, many organizations do not have a written travel policy in place. Even when they do, those organizations might not review it annually or train staff accordingly.
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