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Expense claims - businesses owners expected to tighten up

Expense claims - businesses owners expected to tighten up
Thursday, 04 June 2009 23:00

It is not simply MP's expenses that are coming under greater scrutiny, increasingly businesses are planning to review employee expense claims more closely in the future.

LinkedIn, the networking website, carried out a survey recently and found that almost a quarter of the bsuinesses responding in the poll had lost money through over-claimed expenses.

Worryingly a further 25% agreed that they had no accurate figures on whether staff expenses were legitimate or not. Only a half of the businesses asked believed that their employees are completing correct and appropriate expenses.

10% of businesses said they intended to examine their systems and policies for expense claims with the aim of tightening up processes.

Cristina Hoole, the European Marketing Director at LinkedIn, said: "Most of us claim honest expenses from costs we pay through our day-to-day jobs, but it seems that a significant proportion of UK businesses are suffering as some employees push the boundaries of what should and should not be claimed.

"At a time when businesses are keener than ever on reducing costs, I think we can expect the ripple effect to carry on through the private sector.

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