Finance SME employees 'worst for expenses cheating'

Small and medium enterprises (SMEs) in the financial sector may need to keep better track of their expenses management, a new report has suggested.

Conducted by fuelGenie, the study revealed that nearly 18.2 per cent of employees working for financial SMEs have made untrue expenses claims at least once, the worst out of all sectors.

FleetDirectory.co.uk reports that young staff members could also be the most likely to submit false claims, at 8.3 per cent, compared to older employees, with only 1.8 per cent admitting to doing so.

Sarah Keane, spokesperson for fuelGenie, said: "The fact that UK SME employers are allowing any employees to falsely claim expenses is astounding given the current economic situation. SME owners need to clamp down on staff dishonesty."

SME business management may become more prevalent this year thanks to the positive entrepreneurial environment, business expert Julie Meyer recently suggested, adding that now is a good time to establish a small firm.

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