Business owners and managers already know just how difficult it can be to handle the expenses of their employees. Keeping up with an expense report is something that must be done when a company offers reimbursement for travel costs and other expenses, and it happens in the public sector as well. Expense reporting showed up in a big way in Canadian news recently as a senator and an ex-senator were brought up on charges related to their expense reports, as highlighted in a BBC News article.
The charges in this case focus on Mac Harb and Patrick Brazeau, and alleges that the senators claimed fraudulent travel expenses and living expenses when filling out their expense report. Specifically, the two are charged with claiming travel expenses and living expenses for their residences near the capital. They claimed these residences as their second homes, although they were in reality their full time homes.
Mr. Harb in particular has already left the Senate after being ordered to repay 231,000 Canadian dollars, while Mr. Brazeau has been suspended from the chamber and ordered by the court to repay thousands in misclaimed expenses. Others involved in the case have also been ordered to repay improperly reported expense funds. It’s a serious scandal and one that highlights just how the expense report can be abused for monetary gain.
However, it’s not always a case of abuse. For many businesses, noncompliance issues aren’t born from dishonest but instead from simple mistakes. As more and more cases of fraud are being exposed, it’s important for all businesses to make certain that they adhere to all guidelines, regulations, and laws. Failing to do so can lead to fines, fees, jail time, and much more. In other words, staying compliant is vital for the future of your company, and programs like ExpensePoint can help tremendously with staying on the right side of compliance.
Good software programs handle much of the hard work automatically, eliminating a wide range of potential issues. Common reasons for being noncompliant include things like lost receipts or documents, inaccurate reports of expenses by employees, and much more. It can seem simple, but keeping an expense report balanced correctly can be tricky. The programs from www.ExpensePoint.com can help with the process and make sure you stay on the right side of compliance at all times.