Audit Program Design
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I need some help design tests of controls, substantive tests of transactions, and analytical procedures for the Payroll and Personnel cycle.
I do not want it to merely focus on statistical procedures; but rather I should demonstrate an understanding of current industry practices including non-statistical procedures and integration of information technology into the auditing process.
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Audit Program Design
I need some help design tests of controls, substantive tests of transactions, and analytical procedures for the Payroll and Personnel cycle.
I do not want it to merely focus on statistical procedures; but rather I should demonstrate an understanding of current industry practices including non-statistical procedures and integration of information technology into the auditing process.
The tests of controls relating to the payroll and personnel cycle are as follows:
During the audit cycle the following controls should be tested:
Wage payout should be controlled by an independent paymaster accompanied by respective foremen.
Isolation of responsibility and a strict time bound schedule for making deduction, posting entries for deduction, and supervision on these activities.
Isolation of responsibilities for signing checks to two persons, who should made payroll checks.
Payroll details should be unchangeable except for payroll amendment form, regular review of payroll by management, splitting and distribution of payroll to department heads for approval, reconciliations by a person independent of ...
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