An auditor may plan to test controls in the payroll process because, among other factors: a. The

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An auditor may plan to test controls in the payroll process because, among other factors:

a. The chance of employee fraud is remote.

b. Outside governmental auditors spend considerable time investigating the payroll area in most companies.

c. Audit risk in the area relates primarily to the hiring of competent personnel.

d. Payroll transactions are generally routine and processed in a high volume, which makes controls effective for management to employ.

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Related Book For  answer-question

Auditing A Practical Approach with Data Analytics

ISBN: 978-1119401742

1st edition

Authors: Raymond N. Johnson, Laura Davis Wiley, Robyn Moroney, Fiona Campbell, Jane Hamilton

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