Auditing And Assurance Services
17th Edition
ISBN: 9780134897431
Author: ARENS, Alvin A.
Publisher: PEARSON
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Question
Chapter 20, Problem 4RQ
To determine
Identify the meaning of imprest payroll account along with its purpose as a control over payroll.
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What are the risks prevalent in a payroll system?
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Why payroll internal controls are important? briefly explain.
Chapter 20 Solutions
Auditing And Assurance Services
Ch. 20 - Prob. 1RQCh. 20 - Prob. 2RQCh. 20 - Distinguish among a payroll master file, a W-2...Ch. 20 - Prob. 4RQCh. 20 - Prob. 5RQCh. 20 - Prob. 6RQCh. 20 - Prob. 7RQCh. 20 - Prob. 8RQCh. 20 - Prob. 9RQCh. 20 - Prob. 10RQ
Ch. 20 - Prob. 11RQCh. 20 - Prob. 12RQCh. 20 - Prob. 13RQCh. 20 - Prob. 14RQCh. 20 - Prob. 15RQCh. 20 - Prob. 16.1MCQCh. 20 - Prob. 16.2MCQCh. 20 - Prob. 16.3MCQCh. 20 - Prob. 17.1MCQCh. 20 - Prob. 17.2MCQCh. 20 - Prob. 17.3MCQCh. 20 - Prob. 18.1MCQCh. 20 - Prob. 18.2MCQCh. 20 - Prob. 18.3MCQCh. 20 - Prob. 19DQPCh. 20 - Prob. 20DQPCh. 20 - Prob. 21DQPCh. 20 - Prob. 22DQPCh. 20 - Prob. 23DQPCh. 20 - Prob. 24DQPCh. 20 - Prob. 25DQPCh. 20 - Prob. 26DQPCh. 20 - Prob. 27DQPCh. 20 - Prob. 28C
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Similar questions
- For what reason are distribution columns sometimes provided in the payroll register?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_forwardwhat are the examples of independent verification controls in a payroll accounting systemarrow_forward
- How would you go about detecting and preventing Payroll and Expense Reimbursement Schemes ?arrow_forwardWhich function should distribute paychecks?a. personnelb. timekeepingc. paymasterd. payrollarrow_forwardRefer 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_forward
- 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_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_forwardHow do you find and calculate FUTA and SUTA on payroll register?arrow_forward
- How to calculate FIT on payroll register? What is the equation or numbers I am supposed to use to find the solution?arrow_forwardWhat 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.arrow_forward
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