Why is the ownership assertion a key risk in the payroll process? a. The year-end accruals are
Question:
Why is the ownership assertion a key risk in the payroll process?
a. The year-end accruals are small so they may be incomplete.
b. Payroll duties cannot easily be segregated in most businesses.
c. Evidence from government income tax reports is often audited.
d. The payroll process involves a high volume of small payments to individuals.
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Related Book For
Auditing An International Approach
ISBN: 978-1259087462
7th edition
Authors: Wally J. Smieliauskas, Kathryn Bewley
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