Explain how audit sampling can be used to test the payroll and personnel cycle. Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. The frequency of control deviations or monetary errors must be prior to performing the tests. This together with the risk of overreliance and the tolerable exception rate will enable the auditor to determine the sample size required. Once the test are performed on the sample, evaluation of the results will indicate whether the exception rate is that anticipated. The auditor must then use his or her judgment to decide the appropriate action to take. Select four of the following objectives the auditor will have when using audit sampling. A. Paycheck endorsement is the same as the signature on the W-4 form. B. Overtime hours are broken out into a separate paycheck for employees for ease of time reporting. C. Exemptions taken agree with W-2. D. Deductions, excluding income taxes paid, are matched to payroll master file. E. Gross pay calculations are verified. F. Hourly rates agree with personnel files and union contracts. G. Time record hours agree with payroll computations. H. Payroll personnel approve all time cards. Il Voluntary withholdings and miscellaneous deductions are approved by the payroll department. Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. not the most effective The frequency of control deviations or monetary errors must be the auditor to determine the sample size required. Once the test are pe The auditor must then use his or her judgment to decide the appropriat ning the tests. This together with the risk of overreliance and the tolerable exception rate will enable tion of the results will indicate whether the exception rate is that anticipated. the most important Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. The frequency of control deviations or monetary errors must be the auditor to determine the sample size required. Once the test The auditor must then use his or her judgment to decide the app prior to performing the tests. This together with the risk of overreliance and the tolerable exception rate will enable evaluation of the results will indicate whether the exception rate is that anticipated. accurately quantified Select four of the following objectives the auditor will have when estimated NA Davchenkendorsement is the same as the sianature on the WLA form Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. risk of overreliance and the tolerable exception rate will enable The frequency of control deviations or monetary errors must be prior to performing the tests. This together with the the auditor to determine the sample size required. Once the test are performed on the sample, evaluation of the results will indicate whethe The auditor must then use his or her judgment to decide the appropriate action to take. S that anticipated. acceptable Select four of the following objectives the auditor will have when using audit sampling. high low A. Paycheck endorsement is the same as the signature on the W-4 form. R Overtime hours are broken out into a senarate navcheck for emnlevees for ease of time ranortina Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. The frequency of control deviations or monetary errors must be prior to performing the tests. This together with the risk of overreliance and the tolerable exception rate will enable the auditor to determine the sample size required. Once the test are performed on the sample, evaluation of the results will indicate whether the exception rate is that anticipated. The auditor must then use his or her judgment to decide the appropriate action to take. Select four of the following objectives the auditor will have when using audit sampling. equal to higher than lower than A. Paycheck endorsement is the same as the signature on the W-4 form. B. Overtime hours are broken out into a separate paycheck for employees for ease of time reporting. C. Exemptions taken agree with W-2. D. Deductions, excluding income taxes paid, are matched to payroll master file. lower than, equal to, or higher than Explain how audit sampling can be used to test the payroll and personnel cycle. Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. The frequency of control deviations or monetary errors must be prior to performing the tests. This together with the risk of overreliance and the tolerable exception rate will enable the auditor to determine the sample size required. Once the test are performed on the sample, evaluation of the results will indicate whether the exception rate is that anticipated. The auditor must then use his or her judgment to decide the appropriate action to take. Select four of the following objectives the auditor will have when using audit sampling. A. Paycheck endorsement is the same as the signature on the W-4 form. B. Overtime hours are broken out into a separate paycheck for employees for ease of time reporting. C. Exemptions taken agree with W-2. D. Deductions, excluding income taxes paid, are matched to payroll master file. E. Gross pay calculations are verified. F. Hourly rates agree with personnel files and union contracts. G. Time record hours agree with payroll computations. H. Payroll personnel approve all time cards. Il Voluntary withholdings and miscellaneous deductions are approved by the payroll department. Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. not the most effective The frequency of control deviations or monetary errors must be the auditor to determine the sample size required. Once the test are pe The auditor must then use his or her judgment to decide the appropriat ning the tests. This together with the risk of overreliance and the tolerable exception rate will enable tion of the results will indicate whether the exception rate is that anticipated. the most important Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. The frequency of control deviations or monetary errors must be the auditor to determine the sample size required. Once the test The auditor must then use his or her judgment to decide the app prior to performing the tests. This together with the risk of overreliance and the tolerable exception rate will enable evaluation of the results will indicate whether the exception rate is that anticipated. accurately quantified Select four of the following objectives the auditor will have when estimated NA Davchenkendorsement is the same as the sianature on the WLA form Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. risk of overreliance and the tolerable exception rate will enable The frequency of control deviations or monetary errors must be prior to performing the tests. This together with the the auditor to determine the sample size required. Once the test are performed on the sample, evaluation of the results will indicate whethe The auditor must then use his or her judgment to decide the appropriate action to take. S that anticipated. acceptable Select four of the following objectives the auditor will have when using audit sampling. high low A. Paycheck endorsement is the same as the signature on the W-4 form. R Overtime hours are broken out into a senarate navcheck for emnlevees for ease of time ranortina Tests of controls and substantive tests of transactions procedures are means of verifying account balances in the payroll and personnel cycle. The frequency of control deviations or monetary errors must be prior to performing the tests. This together with the risk of overreliance and the tolerable exception rate will enable the auditor to determine the sample size required. Once the test are performed on the sample, evaluation of the results will indicate whether the exception rate is that anticipated. The auditor must then use his or her judgment to decide the appropriate action to take. Select four of the following objectives the auditor will have when using audit sampling. equal to higher than lower than A. Paycheck endorsement is the same as the signature on the W-4 form. B. Overtime hours are broken out into a separate paycheck for employees for ease of time reporting. C. Exemptions taken agree with W-2. D. Deductions, excluding income taxes paid, are matched to payroll master file. lower than, equal to, or higher than