K2's Expense Reporting Automation

K2's Expense Reporting Automation

K2’s Expense Reporting Automation

Computer Software and Applications
2 CPE Credits
Course - K2's Expense Reporting Automation
25c-expauto
In-Person, Webinar
Live
Intermediate
100 Minutes
Topics Learning Objectives Description Compliance

Major Topics

  • Extracting and importing transaction data from bank feeds and matching to receipts
  • Overview of selected expense and corporate credit card reporting and management platforms
  • Major fraud schemes associated with expense reporting

Learning Objectives

  1. Select at least two types of employee expenses that are identified as very risky by the course
  2. Identify at least two common expense reimbursement fraud schemes.
  3. Choose responses that explain how bank feeds are different from data extraction/OCR applications
  4. Identify at least two comprehensive expense reporting solutions discussed in detail during the course which offer both OCR data extraction and mobile receipt capture
  5. Explain how artificial intelligence can be used to identify unusual items in expense reports

Description

Managing and auditing employee spending on personal and corporate credit cards is a challenge everywhere. Legacy manual expense reporting preparation and approval processes are tedious and repetitive and are an excellent place to start your company’s use of business process automation solutions. This session will cover a variety of expense workflow tools which use technologies and features like bank feeds, mobile receipt capture, OCR data extraction/filling, automated policy enforcement, and artificial intelligence-based validation to automate and eliminate the tedium. Attend this session and learn how to use automation and cure the expense reporting blues for you and your employees.

Compliance Information

Business professionals seeking to improve expense reporting process None Computer Software and Applications 2 Credits January 1, 2025
Topics

Overview

Managing and auditing employee spending on personal and corporate credit cards is a challenge everywhere. Legacy manual expense reporting preparation and approval processes are tedious and repetitive and are an excellent place to start your company’s use of business process automation solutions. This session will cover a variety of expense workflow tools which use technologies and features like bank feeds, mobile receipt capture, OCR data extraction/filling, automated policy enforcement, and artificial intelligence-based validation to automate and eliminate the tedium. Attend this session and learn how to use automation and cure the expense reporting blues for you and your employees.

Course Details

  • Fraud in small business environments
  • Internal control options in small business accounting software
  • Understanding the need for application controls and general controls
  • Common challenges associated with implementing appropriate internal controls in small business environments

  1. Cite internal control fundamentals, including definitions and concepts, types of internal control activities, and the need for internal controls
  2. Identify common small business control deficiencies and issues, including concentration of ownership and inadequate segregation of duties, and list five key risk areas for small businesses
  3. Recognize the common types of fraud schemes occurring in small businesses and implement internal control measures to reduce the threat of becoming a victim
  4. List the objectives and common deficiencies of small business accounting systems
  5. Define the purpose of general controls and list examples of typical control techniques in small businesses
  6. Implement technology tools to prevent and detect occupational fraud
  7. List opportunities to enhance security over information systems and sensitive data

Intended Audience — Business professionals responsible for internal control and fraud prevention and detection

Advanced Preparation — None

Field of Study — Auditing

Credits — 8 Credits

IRS Program Number –

Published Date – November 2, 2022

Revision Date –

Course Authors

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