Which of the following payroll control activities would most effectively ensure that payment is made only for work performed?a. Require all employees to record arrival and departure by using the time clock.b. Have a payroll clerk recalculate all time cards.c. Require all employees to sign their time cards.d. Require employees to have their direct supervisors approve their time cards

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: There are three employees in the accounting department: payroll clerk, accounts payable clerk,…

A: Payroll clerk is the person who keeps records of payroll data of all the employees and issues them…

Q: Ennis Locatelli is a new payroll accountant at Avata Electronics. In his review of previous manual…

A: Payroll Accounting: The process of payroll accounting includes the computation and payment of…

Q: Describe the internal control weakness in Two Symbols’ cash disbursements system and discuss the…

A: Internal Control: Internal control is an internal and independent assurance of objectives of an…

Q: The following is the description of cash disbursements system of Two Symbols Limited: Upon receipt…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: The following is the description of cash disbursements system of Two Symbols Limited: Upon receipt…

A: Internal control is an internal and independent assurance of objectives of an organization in…

Q: Discuss the importance of employee timekeeping in preparing the payroll? Discuss the different…

A: Timekeeping Timekeeping is important for the business entity which provides and track the details of…

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: What internal control procedure ( s ) would provide protection against the following threats ? An…

A: Internal control procedures are employed for ensuring the proper accounting and auditing controls…

Q: The following are internal controls that theauditor has identified for various cycles.1. Sales…

A:

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: Effective control over the cash payroll function would mandate which of the following?a. The payroll…

A: Internal controls are the systems, rules, and strategies executed by an organization to guarantee…

Q: Refer to the flowchart.a. What risks are associated with the payroll procedures depicted in the…

A: Definition: Payroll control: A payroll fund is an amount which is used to pay the salary of…

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: 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: sses and exampl

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

Q: Matthew Corp. has changed from a system of recording time worked on clock cards to a computerized…

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

Q: The following is the description of cash disbursements system of Two symbols limites: Upon receipt…

A: Internal control: Internal control is a process which ensures continuous reliability of…

Q: Describe the internal control weakness in Two Symbols’ cash disbursements system and discuss the…

A: Internal control:   Internal Control Weakness refers to failure in the implementation or…

Q: Which of the following is an internal control activity that could prevent a paid disbursement…

A: Control Activities:  The actions taken management and employees of client to ensure about execution…

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: 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: Discuss the risks depicted by the payroll system flowchart. Describe the internal control…

A:

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: 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: 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: Discuss any control weaknesses found in the flowchart. Recommend any necessary changes.

A:

Q: Upon receipt of the documents from accounts payable department, the cash disbursements clerk files…

A: Internal Control: Internal control is an internal and independent assurance of objectives of an…

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: There are three employees in the accounting department, payroll clerk, accounts payable clerk and…

A: Since the accounts receivable clerk must cope with the customers' regular inflow of receivables, he…

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: 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: Discuss the internal control weaknesses in the expenditure cycle flowchart Structure your answer in…

A: Expenditure Cycle Flowchart: Expenditure cycle shows the expenditure which occurs because of making…

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: The Fair Labor Standards Act requires that O A. all information entered in the payroll process be…

A: The fair labour standards requires that all the information regarding the details of all labour…

Q: A large retail enterprise has established a policy that requires the paymaster to deliver all…

A: Unclaimed Payroll Checks: When the employees do not encash their paychecks they become the property…

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: An auditor found that employee time records in one department are not properlyapproved by the…

A: Option 3 is correct.

Q: Susan Small, CPA has Medium Corporation as an audit client. Medium has asked Small to create and…

A: Auditing refers to the evaluation of a companys' books of accounts and financial statements by the…

Q: disbursements for salaries and wages shall be supported by:

A: GAM stands for Government Accounting Manual. NGA stands for National Government Agencies.

Q: Case Study. In an automated payroll processing environment, a department manager substituted the…

A: Hash Total is the best control technique to detect this action using employee identification…

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: 1. In ideal circumstances, each payroll check is delivered personally to the employee who signs a…

A: Payroll checks are related to salaries and wages of the employees. Income taxes are amount of dues…

Q: Describe the internal control weakness in Two Symbols’ cash disbursements system and discuss the…

A:

Q: Leon Jones worked in the warehouse of a large building supply company. One day he unexpected left…

A: Payroll fraud:  A payroll fund is an amount that is used to pay the salary of employees. Many…

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: