AUDITING+ASSURANCE 12MONTH ACCESS CARD
AUDITING+ASSURANCE 12MONTH ACCESS CARD
17th Edition
ISBN: 9780135635131
Author: ARENS
Publisher: WILEY
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Chapter 20, Problem 15RQ
To determine

Explain the reason for its being common to verify officer’s total compensation even after the excellent ‘test of controls’ and ‘substantive test of transaction’.

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What audit procedures can be used to verify officers’ compensation?
If a client uses ADP, a service center, for processing payroll, None of these. auditing standards require the auditor to test ADP’s controls since the service center application involves processing significant financial data. the auditor can assume that the controls are adequate because it is an independent enterprise. and the user auditor decides to rely on ADP’s auditor's report, the user auditor must make reference to the report of the service auditor in the opinion on the user organization's financial statements.
What are the most frequent mistakes and scams that occur in the payroll and personnel processes?? In order to avoid or discover these blunders and scams, what are auditors searching for?
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