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- What documents does a perpetrator use to commit billing fraud? example? What are the three categories in payroll fraud? example?1. How do organizations account for their fixed assets in MYOB? 2. What are some risks in the payroll processes and examples of payroll-related fraud?What is NOT an example of internal control procedures that help prevent payroll fraud? a.Outsource Payroll Administration b.Require mandatory vacations c.Make sure only one person handles payroll functions d.Conduct periodic unannounced audits
- What are some risks in the payroll processes and examples of payroll-related fraud?Evaluate the difficulties associated with preventing and detecting payroll fraud.below presents the payroll procedures of XYZ Limited. We discussed various aspects of such payroll procedures. In the light of that discussion, identify the potential frauds possible in the payroll system of XYZLimited. Also, discuss the control techniques to avoid these frauds
- What features of a payroll system could be expected to prevent or detect the (a) payment of a fictitious employee and (b) omission of payment to an employee?What are solutions a company can take to protect itself against any employees committing fraud through the payroll system?What are 4 examples of type of employee payroll fraud that companies need to look out for?
- What is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)? e. Cross-footing the payroll registerAnswer the following questions and give an example for each case: What category does inventory related fraud fall into? What documents does a perpetrator use to commit billing fraud? What are the three categories in payroll fraud? How is skimming scheme fraud carried out? In which areas can the embezzlement scheme be identified? What can cause fraud to be committed in the presentation of financial statements?Refer to the flowchart.a. What risks are associated with the payroll procedures depicted in the flowchart?b. Discuss two control techniques that will reduce or eliminate the risks.
