Further ensure no cost leakage
Sophisticated business rules will monitor expense spend to comply with an organisation’s defined business policies and approvers will review items before accepting. However, businesses may still adopt a secondary audit review for certain expense charges, receipt verification and other defined business requirements. Chrome River AUDIT can be added in order for an organisation to further ensure no cost leakage. This process can be instituted even after the employee has been reimbursed for their submitted expense charges.
Audit items hand delivered
The most effective auditing is intelligent auditing. You don’t need to pore over stacks of expense claims with a calculator, pencil, magnifying glass and a green visor. Chrome River AUDIT simplifies the process and guides you to focus directly on the expense submissions that may need the most attention. A powerful rule set can analyze the expense charges, attributes of the charges, attributes of the expense submitter and even an audit risk level of the submitter to trigger those reports automatically to the audit queue for additional review.
The right tool to simplify the process
Audit triggers and even intelligent samplings can arrive in the audit queue and will be flagged with a defined audit concern for the reviewers. Handy tools allow auditors to return items to the employees with pre-set narrative responses, additional notes and then maintain threaded discussions with the employees over the transactions in question.
Corrections tracked and made easy
Are corrections needed? If so, Chrome River AUDIT supports a unique Adjustment Report capability that links new expense item adjustments to a prior report for correction and further clarification.
Deliver greater visibility to your auditor
To further assist the auditors to streamline their process and effectiveness, powerful expense analysis inquiries are built directly into the audit review process so that an auditor can have even greater visibility into an individual’s specific prior expense charges and spend patterns. Chrome River AUDIT provides the ultimate in ease and power for post-payment audit review management.
Features
- Fully integrated with Chrome River EXPENSE
- Audit review triggers
- Audit concern notes
- Audit risk levels
- Threaded discussion notes and audit history
- Adjustment report linking
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