Describe a minimum of three ways Accounting Iinformation System can help minimize or eliminate inaccurate time and attendance data in a typical company's payroll activity.

Q: Payroll Authorization in a Computerized System. Two accountants were discussing control activities…

A: Computerized Payroll System:   A system that stores and maintains all the information related to…

Q: Items 1 through 8 are selected questions typically found ininternal control questionnaires used by…

A: We will answer only first two sub-parts of this question as it is not mentioned which sub-part is to…

Q: Which of the following payroll control activities would most effectively ensure that payment is made…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: Which of the following activities performed by a department supervisor most likely would help to…

A: The departmental supervisor approves payroll. If the departmental supervisor distributed paychecks…

Q: The following are typical questions that might appear on an internal control questionnaire for…

A: The key Internal control activities are as follows:- Segregation of duties Authorization and…

Q: Describe a walkthrough of the payroll transaction flow from hiring authorization to payroll…

A: Payroll Cycle: The payroll cycle is commenced with the hiring and dismissal of an employee along…

Q: Explain audit for payroll

A: Transaction in statement  of profit and loss is been audited by performing substantive analytical…

Q: The following are typical questions that might appear on an internal control questionnaire for…

A: The key Internal control activities are as follows:- Segregation of duties Authorization and…

Q: b

A: The process of matching the detailed amounts of unpaid customer billings to the accounts receivable…

Q: What is the purpose of the following control procedures (i.e., what threats is it designed to…

A: A payroll register provides the information related to the pay of each employee during each pay…

Q: Please help me pass!... Thank you in advance!!

A: Firstly select the payroll register for a specific period, and check the details: Test the…

Q: In determining the effectiveness of an entity’s policies and procedures relating to the occurrence…

A: Management Assertion: Management assertion refers to the claim made by management assuring about…

Q: Required: a. Assess the transaction-related audit objective in the payroll and personnel system of…

A: Auditing: Auditing can be defined as the process of evaluating the accuracy of the information…

Q: The purpose of separating the duties of hiring personnel and distributing payroll checks is…

A: Operational responsibility forms part of the record-keeping responsibility. Hence authorization of…

Q: nternal Control Questionnaire Items: Assertions, Tests of Controls, and PossibleErrors or Frauds.…

A: a.

Q: Which of the following is a preventive control?a. Reconciliation of a bank account.b. Recalculation…

A: Definition: Prevention control: Prevention control is an activity undertaken to avoid or prevent the…

Q: ich of the following services cannot be performed for a no O Signing payroll checks. O Preparing…

A: Nonissuer client refers to the person or the client or companies who cannot issue securities nor…

Q: The following are typical questions that might appear on an internal control questionnaire for…

A: There are 2 types of substantive audit procedures:- Test of detail Analytical procedures

Q: Define the term payroll register.

A:

Q: According to COSO, the proper segregation of functions is an effective internal control procedure.…

A: Internal controls are set of rules, policies and procedures which enables effective and efficient…

Q: explain why you believe having a payroll journal as a separate entity from the main journal is a…

A: Answer: Payroll journal is posted to identify the payroll to be processed per employees so that the…

Q: sses and exampl

A: Here are some of the common risks to be aware of and  payroll processes can help in them: Overtime…

Q: Kitty works in the payroll division of Ludlow Ltd. When preparing the weekly payroll summary, she…

A: Review of operational performance means identifying the levels at which all business functions can…

Q: What are the most common errors and frauds in the personnel and payroll cycle? Which control…

A: Payroll cycle: The payroll cycle is commenced with the hiring and dismissal of an employee along…

Q: Payroll Processed by a Service Organization. Assume that you are the audit senior conducting a…

A: Payroll: Payroll refers to the list of employees in a company and the amount paid to them in the…

Q: Advise the college on the weakness in its systems and procedures due to payroll fraud.

A: List of some actions to be taken by college on the weakness in its systems and procedures due to…

Q: What is NOT an example of internal control procedures that help prevent payroll fraud? a.Outsource…

A: Internal control is a technique used by internal management to analyse the efficiency and…

Q: Describe a minimum of three ways AIS can help minimize or eliminate inaccurate time and attendance…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: What is the purpose of the following control procedures (i.e., what threats is it designed to…

A: CONTROL PROCEDURES ARE THE SPECIFIC ACTIONS THAT MANAGEMENT TAKES TO MAINTAIN CONTROL AND TO ENSURE…

Q: What features of a payroll system could be expected to prevent or detect the (a) payment of a…

A: Payroll: Payroll refers to the list of employees in a company and the amount paid to them in the…

Q: In an automated payroll processing environment, a department manager substituted the time card for a…

A: Internal Controls: Internal controls are the controls established within an organization to check…

Q: S1: When control risk is assessed as low for assertions related to payroll, substantive tests of…

A: The question is related to Auditing. Control risk is  the effectiveness of the design,…

Q: what are the examples of independent verification controls in a payroll accounting system

A: Payroll accounting involves recording of Employee related data including: gross wages, salaries,…

Q: payroll system in the accounting department

A: Payroll system integrates all processes that include recording employee details, calculation and…

Q: An audit team most likely would assess control risk at the maximum if the payroll department…

A: An audit team most likely would assess control risk at the maximum if the payroll department…

Q: When control risk is assessed as low for assertions related to payroll, substantive tests of payroll…

A: Solution Concept Control risk It is a risk that the company’s internal control will not be able to…

Q: Describe TWO (2) audit procedures to be performed in the audit of payroll transactions in addressing…

A: AUDIT:- Audit is an examination of books of accounts of the enterprise by the auditor.. An auditor…

Q: Match the four functions of payroll activities with their related internal controls: a.   An…

A: Payroll: Payroll refers to the total amount that is required to be paid by the company to its…

Q: The Accounting Iinformation System may assist to decrease or eliminate erroneous time and attendance…

A: Accounting information system: It refers to an information system used in different accounting…

Q: Why is it important for a business to have good internal controls where payroll is concerned? What…

A: Please find the answer to the above questions below:

Q: All records in a file must be uniquely identifiable in at least one attribute, which is its primary…

A: The primary key is unique and cannot be the same in a table. It is a basis through which every…

Q: An employee not involved in personnel, timekeeping, supervision of employees, or payroll accounting…

A: The question is related to internal controls pertaining to payroll.   Internal control is a process…

Q: Which internal control is not an important part of the payroll system? a. supervisors verify the…

A: Definition: Payroll system: The payroll system is a system within an organization that manages the…

Q: fy types of errors that may cau

A: Payroll records is maintained by the employer which include number of working hours, average pay…

Q: c. Failure to Record Payroll Companies having difficulty meeting profit targets or not-for- profit…

A: The analytical procedure means evaluation using both reasonable financial and non-financial data to…

Q: Which control activity is the entity implementing when at the end of each month, an HR clerk is…

A: Payroll refers to the list of employees of any company which is entitled to receive a desired sum of…

Q: hat is the essentiality of knowing the com

A: Introduction : Payroll can be understood as the remuneration that a company must pay to its workers…

Q: Payroll Tests of Controls. The diagram in Exhibit 8C.22.1 describes several payroll tests of…

A: Answer : The following will be the test control and related evidences in the following situations: