Question: * 1 8 . ( LO 1 2 ) An auditor may plan to test controls in the payroll process because, among other factors: the

*18.(LO 12) An auditor may plan to test controls in the payroll process because, among other factors: the chance of employee fraud is remote. outside governmental auditors spend considerable time investigating the payroll area in most companies. audit risk in the area relates primarily to the hiring of competent personnel. payroll transactions are generally routine and processed in a high volume, which makes controls effective for management to employ.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!