Fifty-eight percent of 500 surveyed employees claimed that employers lose $25,000 or more annually on improper employee spending activity.

Surveyed employees reported making purchases without advanced approval, as well as purchasing office supplies and other equipment for personal use, expensing personal items, and more. Survey results, featured in CCH Daily Document Update, suggest that employees take these actions because the process of making work-related purchases proves challenging. Companies can help alleviate that challenge and reduce these costs by exerting better oversight over expense reporting, including implementing random audits, questioning expenditures and designing clear reimbursement guidelines. Read more.