Supervisor Payroll Department Accounts Payable Cash Disbursements Time Cards Time Cards Payroll Register Cash Disb Voucher Personnel Action Transfer Funds to Раyroll Clearing Account Review and Prepare Personnel Action Prepare Paychecks and Review and Employee Records Authorize Update Records Cash Transfer Time Cards Personnel Action Cash Disb Рayroll Register Cash Disb Vouchers Paychecks Payroll Register Voucher Paychecks Funds Transfer Check Bank Review and Distribute Paychecks Employees
Supervisor Payroll Department Accounts Payable Cash Disbursements Time Cards Time Cards Payroll Register Cash Disb Voucher Personnel Action Transfer Funds to Раyroll Clearing Account Review and Prepare Personnel Action Prepare Paychecks and Review and Employee Records Authorize Update Records Cash Transfer Time Cards Personnel Action Cash Disb Рayroll Register Cash Disb Vouchers Paychecks Payroll Register Voucher Paychecks Funds Transfer Check Bank Review and Distribute Paychecks Employees
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Question
Discuss the risks depicted by the payroll system flowchart. Describe the internal control improvements to the system that are needed to reduce these risks.
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