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    payroll process

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    The auditors of Annaly mortgage discovered that a lot of fictitious employees were on the payroll system and were being paid salaries. Neither the CFO nor the payroll manager was aware of the fraud. What could be the possible reasons for the fictitious employees being added on the payroll system? Discuss in detail.

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    https://brainmass.com/economics/finance/payroll-process-298146

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    Dear Student,

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    Below are my answers.

    ANSWERS

    There is only one underlying cause for the fictitious employees being added on the payroll system, and that is failure in the company's internal control over its ...

    Solution Summary

    The failure in the company's internal control over its payroll process is briefly articulated.

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