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If we actually billed our time worked, the revenue generated would trump any expense amount. Double standard
My all time favorite - expense audit rejected a breakfast at a hotel I was staying at (25$)... took two months - multiple calls and emails to get it finally ok'ed - wasted at least 8 hrs of my time - which could have billed to clients... at over 500$ an hour ~ 4K lost... smart...
We've been hiring a TON of PwC directors and MDs lately in the P&U space, we've gotten the same feeling that something's up over there.
Good thing I'm leaving the firm in a week, consulted an atty also. There's no liability on your end if they attempt to put expenses back on your card since they have been approved initially by the engagement team
I heard about those.. what baffles me is - we are expected to travel but not charge breakfast meals? What we do when we travel coast to coast for 10 hrs straight and not eat anything? If this is what it boils down to the. It's new low... I understand if some one is expensing 100$ for dinner and stuff but the part what is bad is - we go for team dinners and buy expensive wine and food and spend atleast $1000 per night but it sounds like firm is ok with that..
I am so nervous about this I've started eating left overs, bringing food from home and drinking yucky coffee.
I've seen a ton of these happening. Seems to consume a fair amount of partner time to re-authorize expenses that they've already authorized. One EA was called up on HR ethics because thousands of dollars (like over 10) in office expenses had been quietly rejected and not paid. Can't imagine there is an ROI on this exercise
How do reimbursable expenses impact long term firm cash? Lol
I agree ^ it appears this takes more effort. Spend 3 months auditing to reverse $5k
Have been* 😳
So far, I've yet to hear about them finding an illegitimate expense. (Of course there would be a reporting bias by the auditees...)
Except OP, if you actually billed your time worked you'd never win any projects either, or you'd win at lower rates. Efficient markets and all that blab
K1 😱
Exactly K1, it's a double edged sword.
And if they consider something non legitimate? Pay it back? Termination? If you're leaving the firm then what? There are threads about this all over. Seems the firm is in significant trim the fat and then some mode. I'm working on finding my way out asap.
Doesn't everyone bill the client for the time to fill out expenses?