All payment methods have risks, requiring appropriate controls. Auditing is the best way to ensure the controls your organization has in place are working as expected. Every organization has a different tactic and philosophy to approaching audit, it can be difficult to know if your processes are as effective as possible.

The Institute of Commercial Payment’s Corporate Advisory team outlines their best practices, and how to leverage technology, for controlling and auditing card programs by exploring the following topics:

• Preventative controls
  
• Transaction audits
  
• Use of expense management tool
  
• How to handle audit findings
  
• Reporting on auditing