College Accounting (Book Only): A Career Approach
13th Edition
ISBN: 9781337280570
Author: Scott, Cathy J.
Publisher: South-Western College Pub
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Question
Chapter 8, Problem 9DQ
To determine
Specify the manner by payroll fraud is being prevented.
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What are some risks in the payroll processes and examples of payroll-related fraud?
Evaluate the difficulties associated with preventing and detecting payroll fraud.
Give suggestions to avoid payroll related fraud in companies.
Chapter 8 Solutions
College Accounting (Book Only): A Career Approach
Ch. 8 - Prob. 1QYCh. 8 - Prob. 2QYCh. 8 - Prob. 3QYCh. 8 - Prob. 4QYCh. 8 - Prob. 5QYCh. 8 - Prob. 6QYCh. 8 - Prob. 7QYCh. 8 - Prob. 8QYCh. 8 - Prob. 9QYCh. 8 - Prob. 1DQ
Ch. 8 - Prob. 2DQCh. 8 - Prob. 3DQCh. 8 - Prob. 4DQCh. 8 - Prob. 5DQCh. 8 - Prob. 6DQCh. 8 - Prob. 7DQCh. 8 - Prob. 8DQCh. 8 - Prob. 9DQCh. 8 - Prob. 1ECh. 8 - Prob. 2ECh. 8 - Prob. 3ECh. 8 - Prob. 4ECh. 8 - Prob. 5ECh. 8 - On September 30, Cody Companys selected account...Ch. 8 - On September 30, Hilltop Companys selected payroll...Ch. 8 - Prob. 8ECh. 8 - Prob. 1PACh. 8 - Prob. 2PACh. 8 - Prob. 3PACh. 8 - Prob. 4PACh. 8 - Prob. 5PACh. 8 - Prob. 1PBCh. 8 - Prob. 2PBCh. 8 - Prob. 3PBCh. 8 - Prob. 4PBCh. 8 - Prob. 5PBCh. 8 - TruGreen is the worlds largest lawn and landscape...Ch. 8 - Between the end of one month and the 15th day of...
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Similar questions
- 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?arrow_forwardQuestion: List and breifly explain any Two Types of Payroll Fraud. briefly explainarrow_forwardQuestion: Why payroll internal controls are important? briefly explain.arrow_forward
- What are solutions a company can take to protect itself against any employees committing fraud through the payroll system?arrow_forwardWhat is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)? e. Cross-footing the payroll registerarrow_forwardFor the purpose of internal control, the same person who prepares payroll checks should also distribute them. True or False True Falsearrow_forward
- 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?arrow_forwardwhat are the examples of independent verification controls in a payroll accounting systemarrow_forwardwhat is the most critical risks in your payroll process? What should be the internal control to manage this risk?arrow_forward
- 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.arrow_forwardWhat is the purpose of the following control procedures (i.e., what threats is it designed to mitigate)? i. Establishing a separate payroll checking account and funding it as an imprest account.arrow_forwardbelow 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 fraudsarrow_forward
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