ACCT 311 HW # 11 and 12

ACCT 311 HW # 11 and 12 - Accounting 311 Problems 6-3 There...

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Accounting 311 Problems: 6-3) There is defininitly a risk for parol fraud to occur within Sherman company payroll. This could occur first at the employee level. The payroll card is simply a card you punch in and out. Basically employees could not show up to work and have a friend puch the card and say they checked in that day even though they did. It is also in a separate room off from proudcution with no supersion so this fraud could easily occur. Also since the manager prepares form to talk about the terminated employees, they could easily not report a terminated employee but rather have the paychecks for that employee sent to them 6-5) Some sentive information that could occur in the payroll system real time processing could be the input controls, processing controls, independent verification, and the output controls. The main issue I want to mention would be back up. Since it is real time, there is a higher chance that these sysystems will
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  • Spring '08
  • Staff
  • Accounting, real time, real time processing, Sherman Company payroll, th bid process

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