ACC564 Homework Week 6

ACC564 Homework Week 6 - ACC564 Chapter 13 & 14 Homework...

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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? 4.
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This note was uploaded on 11/20/2011 for the course ACCOUNTING 564 taught by Professor Jeromejohnson during the Summer '10 term at Strayer.

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ACC564 Homework Week 6 - ACC564 Chapter 13 & 14 Homework...

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