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Although travel and entertainment expenses are often a small component of overall corporate expenditures, they represent one of the highest inherent risk areas for inappropriate costs and fraud. These expenditures can be a business professional’s best friend—but management’s worst nightmare if not properly handled.
This area of spending inherently provides a prime opportunity for unauthorized, inappropriate, or lavish expenditures by executives and staff. When such spending occurs, more than just financial losses are at stake. Unmanaged travel and entertainment expenses can negatively impact a company's reputation, operations, and compliance efforts.
Discover various methods for evaluating expenses, focusing on identifying risks, analyzing data, and understanding the root causes of issues rather than just individual instances.
Gain practical insights to enhance your organization's T&E management, reduce potential for abuse, and ensure compliance and efficiency.
Lynn Fountain has over 45 years of experience spanning public accounting, corporate accounting and consulting. 24 years of her experience has been working in the areas of internal and external auditing. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. In 2011, as the Chief Audit Executive for an international construction/ engineering firm, she was involved in the active investigation of a joint venture fraud. The investigation included work with the FBI and ultimately led to indictment of the perpetrators and recovery of $13M. Ms. Fountain is currently engaged in her own training and consulting business and is a regular trainer for the AICPA. Ms. Fountain is the author of three separate technical books. “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” was published by the Institute of Internal Auditors Research Foundation. -“Leading The Internal Audit Function” and -“Ethics and The Internal Auditor Political Dilemma” were published by Taylor & Francis In addition Ms. Fountain was a contributing author to the certification program exam for the National Association of Accountants. She also has certificate programs on various on-line platforms. Ms. Fountain has performed as an adjunct instructor for the School of Business for Grantham University and developed the first internal audit curriculum for the School of Business at the University of Kansas. Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate (non-active).
