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L&S Expense Report Descriptions
LAB Audited University of Wisconsin financial transactions and found an alarming number of expense reports out of compliance, with a majority involving a clear business purpose.
Per the UW System Audit Findings Action Items,
- "Simply stating the name of the conference or the person attending a hosted meal or stating 'business lunch' does not establish a business purpose."
- "Why the expense was incurred and how it benefited the University" must also be answered.
Please see the verbiage below for the full audit findings regarding travel.
All employees are required to provide a business purpose for all University funds expended. It is important to provide a detailed explanation that establishes a business purpose when claiming expenses for travel, conferences, meals, misc. purchases, etc. Simply stating the name of the conference or the person attending a hosted meal or stating “business lunch” does not establish a business purpose. It is important to answer “why” the expense was incurred and how it benefited the University. An example of providing a sufficient business purpose would be providing the conference name and the reason for attending. The business purpose should be clear to an Approver/Auditor or a post Auditor without further inquiry. If a valid business purpose is not provided, it is the responsibility of the Approver or Auditor to request necessary information and documentation or disallow the expense.