The following are typical questions that might appear on an internal control questionnaire for payroll activities: 1. Is there adequate separation of duties between employees who maintain human resources records and employees who approve payroll disbursements? 2. Is there adequate separation of duties between personnel who maintain timekeeping or attendance records for employees and employees who distribute payroll checks?   Describe the manner in which each of the above controls might be tested.

Q: Ed Caluag, CPA was engaged to audit the financial statement of KMJS, Company, a continuing audit…

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

Q: What documents are included in the audit trail for payroll?

A: Payroll System:   Payroll system is a system within an organization that manages the payment of…

Q: below presents the payroll procedures of XYZ Limited. We discussed various aspects of such payroll…

A: Payroll In a simple word payroll means the compensation which are provided by the companies to its…

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: (a) the payment of an unauthorized employee and (b) omission of payments to an employee may be…

A: Introduction: Payroll is a term that refers to a company's roster of employees and the money sent to…

Q: Which of the following activities most likely would be considered a weakness in an entity’s internal…

A: Answer:   Option c

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

A: Are names of terminated employees reported in writing to the payroll department? Occurrence- Trace…

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: 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: Identify five general ledger accounts that are likely to be affectedby the payroll and personnel…

A: The general ledger accounts are graphically presented in the form of T-accounts. All the debit…

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: List the supporting documents and records the auditorwill examine in a typical payroll audit in…

A: Audit: Audit is the process of verification of the compliance of the financial statements.

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: 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: Required 1. Prepare a flowchart of the Sherman's payroll system. 2. Discuss the risks for payroll…

A: Payroll System: Payroll system is an arrangement within an organization that manages the payment of…

Q: Evaluate the difficulties associated with preventing and detecting payroll fraud.

A: Payroll is the compensation that a firm must pay to its employees on a given day and for a specific…

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: ) The following audit procedures are typical of thosefound in auditing the payroll and personnel…

A: Auditing:   In auditing, auditors verify the correctness and fair presentation of financial…

Q: Which control activity is the entity implementing when the system verifies that all payrol payments…

A: Payroll processing is an important function in an organization that involves net pay to the employee…

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: are a member of external audit team for Hadi International Limited. Payroll was assigned to you for…

A: Audit Procedure: A specific procedure undertaken by an auditor to procure evidence in a particular…

Q: Figure 4.1 below presents the payroll procedures of AAA Limited. We discussed various aspects of…

A: Payroll System The purpose of preparing the payroll to the company to given the working compensation…

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: As part of a normal payroll audit, the auditor will review a variety of supporting papers and…

A: Term definition: Audit: The process of auditing financial accounts is to ensure that they are…

Q: Describe a minimum of three ways Accounting Iinformation System can help minimize or eliminate…

A: Following are the three ways that helps to minimize and eliminate inaccurate time and attendance…

Q: If a client uses ADP, a service center, for processing payroll, None of these. auditing standards…

A: ADP is automatic data processing facility for payroll processing. This type of processing is done by…

Q: Auditors ordinarily ascertain whether payroll checks are properly endorsed during the auditofa.…

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

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: What are solutions a company can take to protect itself against any employees committing fraud…

A: Payroll theft or fraud is the misusing of the company's funds to issue wrong payments or salaries.…

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: 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: Which of the following control activities could prevent a paid disbursement voucher from being…

A:

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: An audit client has engaged a third-party service organization tohost its payroll software package…

A: Given: The engagement of the third-party for hosting the payroll software package.

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: According to SAS 78/COSO, the proper segregation of functions is an effective internal control…

A:

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: In the event of payroll fraud, discuss the suggestion that the human elements of control systems are…

A: Employee payroll fraud is a complex problem for small company owners in the United States. The…

Q: what is the most critical risks in your payroll process? What should be the internal control to…

A: Payroll process is the most important process in any organization as it would be a critical factor…

Q: In auditing payroll withholding and payroll tax expense, explainwhy emphasis should normally be on…

A:

Q: Figure below presents the payroll procedures of AAA Limited. We discussed various aspects of such…

A: 1.Time card Fraud : If employees falsly mentioned their time in their time sheet and get paid for…

Q: What are the most frequent mistakes and scams that occur in the payroll and personnel processes?? In…

A: This question explains about the most frequent mistakes and scams that occur in the payroll and…