Question: 1(a) explain the objectives of setting up a payroll system. (b) Briefly explain the components of the internal control environment within the payroll system. (c)

1(a) explain the objectives of setting up a payroll system.

(b) Briefly explain the components of the internal control environment within the payroll system.

(c) What are the control activities or checks of the payroll system?

(d) Explain the internal controls, management should put in place when setting up a payroll system?

(e) Using the answers above, explain the controls the auditor may seek.

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 Finance Questions!