Question

At Genuine Products, Inc., time cards of 550 employees are collected weekly by the plant foreman and delivered to the IS department. There, the cards are sorted and the hours worked are entered into the computer. These records are used to prepare individual payroll records, paychecks, and labor cost distribution records. The paychecks are compared with individual payroll records and signed by the treasurer, who returns them to the IS Department supervisor for distribution.

Required:
(1) Describe any weaknesses that exist.
(2) Indicate any frauds or material irregularities that might occur, as a result of the weaknesses.
(3) List any recommendations for improvement of the process.



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  • CreatedJanuary 21, 2015
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