Wrong?
No.
Wrong would be paying more than the negotiated amount.
Wrong would be starving the attendants.
Anything in between is subject to negotiation.
The guy who ordered the food is in the room when it shows up. Even if he's not, by definition someone from our company is.
If it is "wrong", he'll bitch and it will be made right. Or if they can't, it will be noted an we'll negotiate a discount. But we sure as hell are not going over individual bills and bitching about the cost of the items, we have a conference to run, and the food is just fine.
If everything is done for the auditors, than nothing will ever get done. Sure, they are important when dealing at the big ticket items, but there is a reason they are called bean counters. Sometimes it costs more to count the beans than to spend them.