{"id":3499,"date":"2018-04-23T14:49:25","date_gmt":"2018-04-23T14:49:25","guid":{"rendered":"https:\/\/www.peeriosity.com\/shared-services\/articles\/?p=3499"},"modified":"2022-09-06T17:19:32","modified_gmt":"2022-09-06T17:19:32","slug":"expense-report-approvals-for-executives-and-their-admins","status":"publish","type":"post","link":"https:\/\/www.peeriosity.com\/shared-services\/articles\/2018\/04\/expense-report-approvals-for-executives-and-their-admins\/","title":{"rendered":"Expense Report Approvals for Executives and their Admins"},"content":{"rendered":"

Introduction<\/strong><\/span><\/p>\n

In a world of heightened scrutiny for anything out of the ordinary, the cost to a company for missteps that become public can go well beyond the out-of-pocket expenses<\/a>, with a direct hit on the stock price and a reduction in brand value. \u00a0One of the areas of exposure is the travel expense reporting process<\/a> for high-level executives, where the monetary values are often high, and a greater level of review for compliance with the policy may be warranted.\u00a0 In addition, in some cases, it may also be a good plan to have the Purchasing Card activities for the executive\u2019s administrative assistant reviewed by someone other than the executive, to whom the administrative person directly reports.<\/span><\/p>\n

iPollingTM<\/sup> Results Review<\/strong><\/span><\/p>\n

Recently, Peeriosity\u2019s iPollingTM<\/sup> was used by the Manager of Financial Supplier Services at a large health services company to find out how companies set up the approval process for executives and their administrative assistants. \u00a0The poll results indicate that 36% of the companies follow the traditional process for all employees of having the review performed by the next level of management.\u00a0 At 64% of member companies, a different control point is used, including the Controller (16%), the Head of Audit (16%), the CFO (11%), the Shared Services Leader (11%), the Account Payable Supervisor (5%), and the Head of Ethics and Compliance (5%).<\/span><\/p>\n

\"iPolling:<\/p>\n

One potentially simple method for an executive to include expenditures that might otherwise raise suspicion is to have their assistants make the purchase using a company-issued Purchasing Card.\u00a0 Interestingly, the majority of companies, at 58%, have the Purchasing Card transactions reviewed by the direct manager; and in other words, by the Executive who might be requesting a purchase be made where an additional level of review may be appropriate.\u00a0 In 16% of the companies, another person is responsible for the review, and 5% have the review performed by someone in Procurement<\/a>.\u00a0 Here are the details:\u00a0<\/span><\/p>\n

\"iPolling:<\/p>\n

Here are a few of the poll comments from Peeriosity members:<\/span><\/p>\n