You may have a best-in-class system for approving expenses and accounts payable, but if you’re not doing a thorough audit of all spend prior to disbursement, you likely have regulatory violations lurking in there.
Spend-related regulatory violations come in the form of different types of payments or gifts, including those to sanctioned organizations or people; debarred organizations or people; organizations or people on an export control list; foreign officials or government-owned entities; politically-exposed people; and healthcare professionals or organizations. These payments can take many forms, including cash, stock, gifts, meals, or anything of value.
