Which one of the following controls is the best control to prevent or detect fictitious payroll transactions?
(1) Use and account for prenumbered payroll cheques.
(2) Restrict authorization for hiring, terminating, or changing pay rate or job status to the human resources function.
(3) Verify internally authorized pay rates, computations, and agreement with the payroll register.
(4) Conduct periodic independent bank reconciliations of the payroll bank account.