Please provide an explanation of the strengths and weaknesses of the internal controls related to the payroll cycle.© BrainMass Inc. brainmass.com June 3, 2020, 6:30 pm ad1c9bdddf
Some of the strengths and benefits of internal controls for payroll cycle are:
1) Useful for determining that payroll disbursements were made for work authorized and performed in a particular period/cycle.
2) Assists in verifying that payroll, including withholdings and deductions, is computed using rates and other factors in accordance with Federal salary schedules and applicable laws.
3) To ensure that payroll expense and related liabilities are ...
Provide an explanation of the strengths and weaknesses of the internal controls related to the payroll cycle.