During the year being audited, the Matthews Corporation changed from a system of recording time worked on clock cards to an IT payroll system in which employees record time in and out with magnetic cards. The IT system automatically updates all payroll records. Because of this change Which of the following is not a function in the payroll process? Which of the following departments/individuals would likely approve changes in pay rates and deductions from employee earnings? For an appropriate segregation of duties, journalizing and posting summary payroll transactions should be assigned to The purpose of segregating the duties of hiring personnel and disbursement of payroll payments is to separate the Which of the following account types would typically be assessed with a higher level of inherent risk? Which of the following is not part of the control risk assessment process for the human resource management process? Which of the following possible misstatements related to payroll do not involve the assertions of occurrence or existence? Which of the following control activities could best prevent direct labour from being charged to manufacturing overhead? An auditor who is testing IT controls in a payroll system would most likely use test data (discussed in Advanced Module 1 in Chapter 6) that contain conditions such as It would be appropriate for the payroll department to be responsible for which of the following functions? Which of the following audit tests would most likely be used to test the occurrence assertion for payroll transactions? Effective control activities over the payroll function may include Which of the following statements is true regarding substantive procedures in the human resource management process? An auditor is most likely to perform substantive tests of details on payroll transactions and balances when Which of the following is the best possible explanation for a manufacturing firm with a gross profit substantially higher this year in comparison with last year? An auditor may vouch data for a sample of hourly employees in a payroll register back to the approved weekly time card/time sheet files to provide assurance that An auditor is most likely to perform substantive tests of details on payroll transactions and balances when Which of the following is not a required disclosure for payroll-related items? When appropriate substantive procedures are completed Which of the following control activities could best prevent direct labor from being charged to manufacturing overhead?Terms in this set (59) Which of the following internal control activities most likely would prevent direct labor hours from being charged to manufacturing overhead? Use of time tickets to record actual labor worked on production orders.
Which of the following is an effective internal control over accounts receivable?6. Which of the following is an effective internal control over accounts receivable? documents that reduce accounts receivable balances.
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