In the evaluation of the internal control structure policies and procedures relating to the occurrence and completeness
Question:
In the evaluation of the internal control structure policies and procedures relating to the occurrence and completeness of certain payroll transactions, the assess¬ ment of control risk for the related financial statement assertions is more likely to be lower if there is
a. Verification of agreement of job time tickets with employee clock card hours by a payroll employee.
b. Reconciliation of totals on job time tickets with job reports by employees responsible for those jobs.
c. Custody of rate authorization records by the supervisor of the Payroll Department.
d. Preparation of payroll transaction journal entries by an employee who reports to the supervisor of the Personnel Department.
Step by Step Answer:
Auditing Integrated Concepts And Procedures
ISBN: 9781260299397
5th Edition
Authors: Donald H. Taylor, G. William Glezen