What is audit in SAP SRD-FIN-ERM - FIN-Travel and Expense Management?

SAP Term: audit

• Component: SRD-FIN-ERM

• Component Name: FIN-Travel and Expense Management

• Description: The inspection of an expense report for the purpose of establishing whether it conforms to applicable laws and regulations and to company policy.

Smart SAP Assistant

• Key Concepts: 
  Audit is a process of verifying the accuracy and completeness of financial data in SAP. It is used to ensure that all transactions are properly recorded and reported. It also helps to identify any potential errors or discrepancies in the system. 
  
  How to use it: 
  In SAP, audit is conducted by running reports that compare the actual data with the expected data. This helps to identify any discrepancies or errors in the system. The reports can be run manually or automatically, depending on the complexity of the system. Additionally, audit can be conducted by manually reviewing the transactions and documents related to them. 
  
  Tips & Tricks: 
  When conducting an audit, it is important to ensure that all transactions are properly documented and reported. Additionally, it is important to review all documents related to the transactions to ensure accuracy and completeness. 
  
  Related Information: 
  The SRD-FIN-ERM FIN-Travel and Expense Management component of SAP provides tools for auditing financial data. These tools include reports that compare actual data with expected data, as well as manual review of documents related to transactions. Additionally, SAP provides guidance on best practices for conducting audits.