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Monitoring fraud risks in the supply chain Logo aicpa

  Sabine Vollmer |   Free |   AICPA |   13 Apr 2015 |   Journal of Accountancy

This article explains how companies can probe one of the top risks—third-party expense categories—and avoid overpaying,

Topics covered:
  • Management accounting: Technical: Risk management & internal control: Internal control, Foundational
  • Forensic & valuation services: Technical: Fraud, Intermediate

1 Comments/Reflections

Pauline Gordon

Pauline Gordon Dec 2016

within business most Contractor expenses are usually approved by a manager that has hired them specifically, and sometimes there is no Contract for this hire its just a one off fee, so to benchmark that cost vs the knowledge that person could give is difficult for Finance to research. 

Vigilance against timesheet fraud is usually avoided by having a standard working hour day and a day rate rather than an hourly rate.