What are the most common errors and frauds in the personnel and payroll cycle? Which control characteristics

Question:

What are the most common errors and frauds in the personnel and payroll cycle? Which control characteristics are auditors looking for to prevent or detect these errors and frauds?

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For book-img-for-question

Auditing and Assurance Services

ISBN: 978-0077862343

6th edition

Authors: Timothy Louwers, Robert Ramsay, David Sinason, Jerry Straws

See More Books

Question Posted: Oct 27, 2014 06:17 AM

See More Questions

What are the most common causes of instability in governments? Discuss.
What are the most common logistics management software applications and why are they beneficial to users?
What are the most common sources of cash inflows from financing and investing activities?
Consider the following differential equation describing a plug flow bioreactor: dy --Dy+py dt dz -(4-2)D-2uy dt where D = 0.4, 0.52/(0.1+),and the initial conditions are y(0) = 1 and z(0) = 4. a)...
Philip Schwachman owned a commercial building and leased space to Davis Radio Corp. for use as a retail store. In the same building, Schwachman leased other retail space to Pampered Pet, a dog...
If J = y4xz (A/m2), find the current I flowing through a square with corners at (0, 0, 0) , (2, 0, 0), (2, 0, 2), and (0, 0, 2)
Reproduce Figure 2.4 using geom_histogram(aes(y = ..density..)) as shown below for Example 2.5. ggplot_build() extracts the computed values for the histogram. Use the extracted vales to confirm that...
An airplane in flight is subject to an air resistance force proportional to the square of its speed v. But there is an additional resistive force because the airplane has wings. Air flowing over the...
Carmen Camry operates a consulting firm called Help Today, which began operations on December 1. On December 31, the company's records show the following selected accounts and amounts for the month...
Two dentists A and B make a survey of the state of the teeth of 200 children in a village. Dr. A selects a simple random sample of 20 children and counts the number of decayed teeth for each child,...
What features of a payroll system could be expected to prevent or detect the (a) Payment of a fictitious employee and (b) Omission of payment to an employee?
An audit team most likely would assess control risk at the maximum if the payroll department supervisor is responsible for a. Examining authorization forms for new employees. b. Comparing payroll...
Valeria and Matias Rivera have been married for two years and have a 1-year-old son. They live in Richmond, Virginia, where Matias works for Software Solutions. He earns $6,000 per month, of which he...
and the % of business use. Assume the residential rental and business office activities are owned by The following items of business property are followed by the date each was placed in service, its...
The timber beam shown below is made up of 4 boards nailed together as shown in the cross section. Determine the value of shear V in kN, considering the minimum of strengths at B and C. Use spacing of...
Assume that your company is considering two projects A and B for possible funding. Project A investment of $399,760 that will last for five years and the after-tax cash flow of $100,000 each year....
Net present value (NPV) is the difference between an investment's market value and its cost. True or False The average accounting return (AAR) is determined by dividing an investment's average net...
Define arts in detail?
Methanol can be produced from synthesis gas (syngas) by the following reaction: For the case when no inerts are present and for a stoichiometric feed, the equilibrium expression has been determined...
For each equation, (a) Write it in slope-intercept form (b) Give the slope of the line (c) Give the y-intercept (d) Graph the line. 7x - 3y = 3
An analyst who bases the calculation of intrinsic value on dividend-paying capacity rather than expected dividends will most likely use the: A. Dividend discount model. B. Free cash flow to equity...
If the auditor plans to assess control risk at less than the maximum and rely on controls, and the nature, timing, and extent of further audit procedures are based on that lower assessment, the...
When testing a control activitys operating effectiveness, procedures the auditor performs to test operating effectiveness would likely include a. Inquiry of appropriate personnel. b. Reading over the...
Matters that could affect the necessary extent of testing for a control activity as it related to the degree of auditor reliance on a control activity would not include the following: a. The...
what ways do individuals navigate and negotiate their identities within the complex matrix of socialization processes, considering factors such as ethnicity, gender, and socioeconomic status ?
Discuss in three paragraphs how a bank can decrease its labor expense to to improve its risk/return profile. give correct answer with explanation in long.
discuss the concept of resocialization and its significance in situations where individuals undergo significant life transitions or experiences that challenge their existing social identities and...

What are the most common errors and frauds in the personnel and payroll cycle? Which control characteristics

Question:

Step by Step Answer:

The common errors and frauds in the personnel and payroll cycle ...View the full answer

Auditing and Assurance Services

Students also viewed these Auditing questions