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Best Practices for Preventing Business Credit Card Abuse

Protect your company from business card abuse.

There is a tremendous amount of debate centered on how business expenses should be funded, reported, authorized and reimbursed. Business expense fraud is #4 on the list of most common fraud schemes, behind corruption, billing and noncash. It lasts on average 24 months before it is identified and account for 11% of the total cases of fraud in 100+ employees, 21% in smaller firms according to the Association of Certified Fraud Examiners. This material will show you how can you protect your company and at the same time your employees against fraud while maintaining fairness and equity.


Runtime: 63 minutes
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Agenda

Short History of Business Expenses and How They've Grown

  • Started With Outside Sales People
  • Executives
  • Average Employees Have Business Expenses

Who Is Responsible for Business Expenses

  • The Business Should Provide Employees the Tools for Work
  • The Employee Shoulders That Responsibility

Payment Options

  • Petty Cash
  • Expense Report
  • Computer Based Expense Report
    • Employee Owned Credit Card(s)
    • Business Owned Credit Cards(s)
    • Hybrid

Normal Problems With Each Type of Payment Options

  • No Receipt
  • Unauthorized Purchase
  • Error in Card Usage (They Took out Their Business Card, Not Their Personal (or Vice Versa)
  • Lost Receipts
  • Delayed Reports

Fraud

  • Fake Bills
  • Personal Expenses Taken as Business
  • Extravagant Amounts in Violation of Norms/Policy
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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Credits

OnDemand Webinar

This course was last revised on May 11, 2018.

Call 1-866-352-9540 for further credit information.

  • SHRM 1.0
     
  • Lorman Education Services is recognized by SHRM to offer Professional Development Credits (PDCs) for the SHRM-CPSM or SHRM-SCPSM. This program is valid for 1.0 PDC(s) for the SHRM-CP or SHRM-SCP. For more information about certification or recertification, please visit www.shrmcertification.org.
     

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

Audio & Reference Manual

  • Arizona CLE 1.0
     
  • CA MCLE
     
  • CT CLE 1.0
     
  • GA CLE 1.1
     
  • HI CLE
     
  • IL CLE
     
  • ME CLE 1.0
     
  • MT CLE
     
  • NJ CLE 1.2
     
  • NV CLE
     
  • VT CLE 1.0
     
  • WA CLE
     
  • WV MCLE
     
The CLE Code is ONLY a requirement when applying for CLE Credit in California (for participatory credit), Kansas, New Jersey or New York. Other states do not need to supply the CLE Code to apply for CLE credit.

This program does NOT qualify, nor meet the National Standard for NASBA accreditation.

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More Program Information

Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

Faculty

Wayne Spivak

SBA Consulting, LTD

  • Seasoned chief financial officer with both private company and private equity group (PEG) portfolio experience
  • A strategic thinker, possesses strong business acumen, possesses top-notch finance and accounting skills, and is effective at working with senior management
  • At his former companies (clients), he installed MRP accounting systems, made process improvements, drove the budgeting process, and has been involved in the M&A process (buy/sell); he has also championed the pre-sale process by extolling the virtues of planning for an exit when one is not even contemplated
  • He has grown the company, empowered the employees and provided the ethical backbone to the CEO
  • Former adjunct instructor at Lehman College is an expert in the following business sectors: distribution, manufacturing, and service/professional in addition to the system selection and implementation process
  • Has also spent many years working with both start-ups and turnaround situations
  • Written extensively on varied business subjects, been interviewed in both Money and Bloomberg as well as a major contributor to Proformative.com, a community of financial professionals
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Why Lorman?

Over 32 years and 1.4 million customers worth of experience providing continuing education. Our passion is providing you world-class training to help you succeed in business and as a professional.

All of your training, right here at Lorman.

Pay once and get a full year of unlimited training in any format, any time!

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Questions? Call 877-296-2169 to speak with a real person.

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Product ID: 402081
Published 2018
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