Who’s watching?

“WPP Asked Ex-CEO Martin Sorrell to Repay Expenses,” The Wall Street Journal, January 26, 2019.  Company tries to recoup some expenses claimed by its former CEO.

Who monitors your expenses, and how closely?  If the expenses are considered excessive, do you just repay those, or do you get fired?  Does a CEO have a higher duty on this than a mere worker bee?  And is there a distinction of claiming $5 for a $4 taxi fare, versus claiming the cost of a prostitute?  Are there some claims that are just unreasonable?

Expense reports are records, and Information.  The rules for claiming them are covered by company policy and procedures, and monitoring compliance with those rules are part of Governance and Compliance.  How tight are those rules?  And how tightly are they monitored and enforced? What does it say about the culture of the company if there can be a legitimate dispute about whether your kid’s ski trip is an allowable business expense?

 

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Filed under Theme One: Information, Theme Three: Compliance, Theme Two: Governance

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