From the Compliance Week article that I contributed to this week, "The areas of meetings and event planning have become bigger risks for T&E abuse, including FCPA infractions, in recent years, says Debi Scholar, an independent T&E consultant. When an individual travels for business, they may have expenses tied to four or five areas, she says, such as hotel, transportation, and meals. But individuals who host corporate events spend far more and those costs fall in to far more categories. “There may be more than 40 different codes or ways to spend money,” she says. “That makes it a lot easier to hide and misuse funds.” She tells companies to use the strategic meeting management process endorsed by the Global Business Travel Association as a way to better track meeting spending and spot potential abuse."
A little out of context as I provided much more about how the GBTA Groups & Meetings Committee created SMM, and the 40 SIC Codes that meeting/event expenses reside in ...yet it is still wonderful to see that Compliance Week added this information to the article this week! Thanks, Compliance Week.
Here is a link to the whole article: Finding FCPA Violations in Employee Expense Reports
Note...Compliance Week subscription can be FREE for 10 days so that you can read the whole article.
Debi
A BIG THANK YOU to all of the meetings and travel leaders who continue to support me through the T&E blog, LinkedIn groups, client engagements and most important, your friendship.
Thank you for visiting the T&E Plus Blog on expense management, travel management, business meetings, events, incentives, strategic meetings management, entertainment, virtual meetings, tickets, hotels, airlines, ground transportation plus more...
Debi Scholar, GLP, CMM, CMP, SSGB, CTE, CTT
• Author, Strategic Meetings Management: The Strategy Quick Reference Guide (2011)
• Co-Author, Strategic Meetings Management Handbook (2011)
• Meetings Management Mover and Shaker as selected by Corporate and Incentive Travel Magazine (2010)
• Top 20 Changemaker who influenced the meetings management industry by Corporate Meetings and Incentives (2008)
• Best Meeting Practitioner as selected by Business Travel News (2007)
*Debi is proud to be a regular contributor to Business Travel Executive Magazine.
*Debi is proud to be one of only seven 2011 Editorial Board members for Hotel Business Review at http://www.hotelexecutive.com/ for Conferences & Meetings.
*Debi created two LinkedIn groups (GBTA SMM and T&E Plus) that now claim over 2,000 worldwide members combined.
Visit me at one of my upcoming speaking engagements; Topics vary per conference
Some sessions include components of SMM Bootcamp© and/or SMM Challenge©
May 16-17 – FIMP Chairperson - Boston
May 21 - Meetings Tech Expo - Washington DC
June 21 - EMC Webinar
August 23- EMC Webinar
October 25 - EMC Webinar
December 2 - EMC Webinar
Comments