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What is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)? e. Cross-footing the payroll register

Principles of Cost Accounting

17th Edition

ISBN:9781305087408

Author:Edward J. Vanderbeck, Maria R. Mitchell

Publisher:Edward J. Vanderbeck, Maria R. Mitchell

Chapter3: Accounting For Labor

Section: Chapter Questions

Problem 8Q

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What is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)?

e. Cross-footing the payroll register

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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.
For the purpose of internal control, the same person who prepares payroll checks should also distribute them. True or False True False
What is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)? h. Encryption of payroll data both when it is electronically sent to a payroll service bureau and while at rest in the HR/payroll database.
Describe a walkthrough of the payroll transaction flow from hiring authorization to payroll checkdisbursement. (a) What document copies would be collected? (b) What controls should be noted?
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 purpose of each of the above controls
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.