Although travel and entertainment expenses (T&E) are often a small component of overall corporate expenditures, they are one of the highest inherent risk areas for inappropriate costs and fraud. 

Expenditures can be a traveler's best friend but can also be management's worst nightmare if not properly handled. This process area inherently provides prime opportunity for unauthorized or inappropriate and lavish expenditures by executives and other personnel.  When this occurs, more than just dollars are at stake for the company.  Uncontrolled and unmanaged travel and entertainment expenditures can impact reputation, operations and compliance areas.

This course provides context by starting with common areas of T&E abuse and fraud. We then address where T&E fits in the control environment, COSO, and relevant T&E controls. We also highliight areas of abuse that go unnoticed and red flags. Finally we describe processes that can strengthen T&E monitoring and management. 

Why Should you Take this Course:

Regulators and legislation suggest annual review of executive expenditures.  However this can be a risk laden area for compliance professionals to review due to the internal political ramifications.  In today's world of transparency and increasing fraud, management must learn that attention, monitoring, and periodic review of travel and entertainment expenses is an important component of maintaining proper internal controls

Who can Benefit:

  • Professionals in the office of the CFO
  • CEO/CFO
  • Board Members
  • Internal Auditors
  • Compliance Professionals
  • Operational professionals
  • Finance Professionals
Learning Objectives
  • Recognize travel and entertainment (T&E) expenses as a component of the control environment
  • Identify relevant T&E controls
  • Identify areas of abuse that go unnoticed
  • Identify T&E red flags
  • Discover how to strengthen T&E processes
Last updated/reviewed: August 4, 2023
29 Reviews (144 ratings)

Reviews

5
Member's Profile
T & E class is very timely as our organization is struggling with reducing overhead and assuring proper expenses and proper coding. Can really be a zoo. Lynn, thank you for your help. Larry

5
Anonymous Author
Travel and entertainment (T&E) expenses in many companies can be problematic. Having strong T&E polices and procedures is critical to minimize fraud and ensure sufficient documentation, etc

5
Anonymous Author
Very good overview of the things to look for when developing policies and procedures around T&E. Linking spend behaivors to an assessment of tone at the top is a great way to frame it.

5
Anonymous Author
This was a great review of the T&E process and all the red flags that managers should monitor. The presentation was very organized and comprehensive.

4
Anonymous Author
Great course with practical examples. Fraud scenarios explained well, along with typical controls that need to be in place for T&E expenses.

4
Anonymous Author
I like the explanation of all types of reports and abuse that would be involved in doing a Travel and Entertainment Expenses reports

4
Member's Profile
Good course. Relevant to real work issues. Can learn from applying policies. Test questions can be more aligned with material.

5
Anonymous Author
Very relevant and useful content. Explained the importance of setting the right tone for the control environment effectively.

5
Member's Profile
The course allows you to focus on a fairly narrow list of costs. Nevertheless, the course is interesting and very clear.

5
Member's Profile
Really good course that details the essentials of T&E. Good specific recommendations such as having a T&E policy.

5
Anonymous Author
Very good overview of the T&E process and watch outs. Appreciate the examples and reason for having a policy.

5
Member's Profile
Very practical like all her courses. I have taken 6 of her courses, and all of them have been very useful.

4
Anonymous Author
good course to internalize the contents once again and also partly to direct a different picture on fraud

4
Anonymous Author
The course is appropriate starting point for someone trying to support and design a new T&E policy.

5
Member's Profile
Great in depth review of possible areas of concern with travel and entertainment expenses.

5
Anonymous Author
Good overview of T&E, some concepts that i was not familiar with was clearly explained.

5
Anonymous Author
The presenter adequately discussed areas of concern in administering T & E expenses.

4
Anonymous Author
Would like to see more information (i.e. examples of) on policies and procedures.

4
Anonymous Author
A lot of hints and information to get organize and detect possible fraud !

4
Anonymous Author
It was a good review of what to think about when making travel policies.

4
Anonymous Author
Great review about why polices are important and are needed.

4
Anonymous Author
Good overview of T&E process and potential pitfalls.

5
Member's Profile
Great recommendations for monitoring T&E expenses.

5
Member's Profile
"T&E abuse that goes unnoticed" was very useful.

Member's Profile
Some good basics about T&E.

3
Member's Profile
Course is a too basic.

5
Member's Profile
very helpful

5
Member's Profile
Good course

4
Anonymous Author
great

Prerequisites
Course Complexity: Intermediate

Prerequisite: Exposure to internal controls

 

Advanced Preparation: None

 

Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
Travel and Entertainment Expenses (T & E)
  T & E As a Component of Control Environment 9:40
  T & E and COSO12:36
Abuse and Fraud
  Abuse That Goes Unnoticed 10:20
  Other Abuses 12:07
  Fraud Red Flags4:49
CONCLUSION
  Strategies for Managing T & E6:48
Continuous Play
  The CFO’s Dilemma Travel and Entertainment Expenses1:01:14
SUPPORTING MATERIALS
  Slides: Travel and Entertainment ExpensesPDF
  Travel and Entertainment Expenses Glossary/IndexPDF
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam