ACC564 – Chapter 13 & 14 Homework Week 6
13.2
Question
Y/N
Threat if control missing
1.
Are payroll changes (hires,
separations, salary changes, overtime,
bonuses, promotions, etc.) properly
authorized and approved?
1.
Unauthorized pay raises
and fictitious employees.
2.
Are discretionary payroll
deductions and withholdings
authorized in writing by employees?
2.
Errors; lawsuits by
employees; penalties if violate tax
code.
3.
Are the employees who
perform each of the following payroll
functions independent of the other five
functions?
•
personnel and approval of
payroll changes
•
preparation of payroll data
•
approval of payroll
•
signing of paychecks
•
distribution of paychecks
•
reconciliation of payroll
account
3.
Fraud; theft of paychecks.
4.
Are changes in standard data
on which payroll is based (hires,
separations, salary changes,
promotions, deduction and
withholding changes, etc.) promptly
input to the system to process payroll?
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- Summer '10
- JeromeJohnson
- theft, Payroll Preparation
-
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