Without office supplies for use at home (23 percent) and upgrading their airline service (22 percent).
The source recommended that to reduce dishonest and unnecessary spending in the enterprise, leaders should take action. Ninety-eight percent of respondents recommended that their firm develop stronger internal controls, including better monitoring of expense reporting (62 percent) and using audit solutions to check documentation randomly (50 percent).
A study published by the American Accounting Association noted that when internal audits are implemented, companies are more likely to detect fraud before it's too late. Considering how pervasive over-spending is within many firms today, it is worthwhile for business heads to do all they can to contain costs and minimize fraud.