In the current economic climate, it's no surprise that FDs are looking for ways to cut expenses. Streamlining the employee expense policy is often seen as the best way to achieve this. But if an organisation's culture is to abuse the expense policy that exists: treating expenses like a perk of office, using expenses to reward hard-working employees, or using expenses as a way to boost salary, then that expense policy is actually worthless. And if the manager whose job it is to authorise expense claims doesn't know the expense policy, or doesn't understand the VAT significance of an expense, then the problem is compounded. In a recent YouGov survey, 95% of employees said that their employer had never queried or rejected an expense claim for being too high. So FDs who address this issue have the opportunity to make substantial savings.
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