2. Frauds involving Payroll The major payroll-related frauds include a. Fictitious Employees Adding fictitious employees to the payroll is one of the most common defalcations. Detecting fictitious employees on the payroll is very difficult; but auditors do sometimes perform a surprise payoff as a deterrent to this form of defalcation. Alternatively, the auditor may turn the check distribution over to an official not associated with preparing payroll, signing checks, or supervising workers. Personnel files and the employees' completed time cards and time tickets may also be

2. Frauds involving Payroll The major payroll-related frauds include a. Fictitious Employees Adding fictitious employees to the payroll is one of the most common defalcations. Detecting fictitious employees on the payroll is very difficult; but auditors do sometimes perform a surprise payoff as a deterrent to this form of defalcation. Alternatively, the auditor may turn the check distribution over to an official not associated with preparing payroll, signing checks, or supervising workers. Personnel files and the employees' completed time cards and time tickets may also be

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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