Our current Corporate Credit Card Policy and procedures are very restrictive and do not incorporate the risk level/tolerance that our new CEO would like to see. If you are willing to share your current policy and procedures with me I would greatly appreciate it. Here is a brief overview of what we currently have in place:
-Detailed receipts are required on all purchases regardless of amount.
-The immediate supervisor reviews and approves when submitted monthly.
-The CEO or CFO review all submissions (including all purchases and receipts) after the immediate supervisor reviews/approves.
-Per policy, they are all audited on a quarterly basis, which includes a review of all submissions (including review of reciepts and any exceptions were noted and approved)
As you can see it is, in my opinion, complete overkill and a zero risk tolerance. If you could share you current audit process of Corporate Credit Cards that would also be greatly appreciated.
Thanks for all of your help!
Kathie
