Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records. To indicate: the importance of control activities over the classification of payroll transactions.

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Answer 1

Question

Chapter 12, Problem 12.9RQ

To determine

Concept Introduction:

Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records.

To indicate: the importance of control activities over the classification of payroll transactions.

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What are the risks prevalent in a payroll system?

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Answer 2

Question

Chapter 12, Problem 12.9RQ

To determine

Concept Introduction:

Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records.

To indicate: the importance of control activities over the classification of payroll transactions.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 3

Question

Chapter 12, Problem 12.9RQ

To determine

Concept Introduction:

Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records.

To indicate: the importance of control activities over the classification of payroll transactions.

Expert Solution & Answer

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Check out a sample textbook solution

See solution

Answer 4

Question

Chapter 12, Problem 12.9RQ

To determine

Concept Introduction:

Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records.

To indicate: the importance of control activities over the classification of payroll transactions.

Expert Solution & Answer

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Answer 5

Chapter 12, Problem 12.9RQ

To determine

Concept Introduction:

Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records.

To indicate: the importance of control activities over the classification of payroll transactions.

Answer 6

Chapter 12, Problem 12.9RQ

To determine

Concept Introduction:

Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records.

To indicate: the importance of control activities over the classification of payroll transactions.

Answer 7

Chapter 12, Problem 12.9RQ

To determine

Concept Introduction:

Payroll audit: Every organization have payroll department and payroll costs takes major portion of the organization expenses. Hence auditors need to apply special procedures while auditing payroll related records.

To indicate: the importance of control activities over the classification of payroll transactions.

Answer 8

Expert Solution & Answer

Answer 9

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Answer 10

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Answer 11

Ch. 12 - Prob. 12.1RQ Ch. 12 - Prob. 12.2RQ Ch. 12 - Prob. 12.3RQ Ch. 12 - Prob. 12.4RQ Ch. 12 - Prob. 12.5RQ Ch. 12 - Prob. 12.6RQ Ch. 12 - Prob. 12.7RQ Ch. 12 - Prob. 12.8RQ Ch. 12 - Prob. 12.9RQ Ch. 12 - Prob. 12.10RQ

Solution Summary: The author explains the importance of control activities over the classification of payroll transactions. Payroll costs are classified according to purpose of payment and department.

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Chapter 12 Solutions