Purchase Solution

payroll process

Not what you're looking for?

Ask Custom Question

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.

Purchase this Solution

Solution Summary

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

Solution Preview

Dear Student,

Thank you for using BM.
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 ...

Purchase this Solution


Free BrainMass Quizzes
Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.