7. (1.024) Review the controls listed in the following table. For each one, identify the risks an organization would fice if those controls did not exist or were ineffective. Control Potential Risks 1. Provide notification of involuntary termination to the HR department the same day as notice is recelved. 2. Review and approve the payroll journal prior to distribution of payments. 3. Mail annual tax reports (W2s) to employees for tax filing purposes. 4, Only the HR department can extend offer letters for employment. 5. The IT department removes systems access for terminated employees in a timely manner: 6. Collect corporate credit cards in possession of an exiting employee during the exit interviow. 7. Reconcile the list of employens recehing W2s to the employee main table to verify that the company accounts for all employees. 0. Maintain a comprehensive employee handbook: 9. Employees make changes to employee personal information directly via an online portal. 10. Review new hire documentation prior to emplaye record creation. \begin{tabular}{|c|c|c|c|c|c|c|} \hline \begin{tabular}{l} Enpleye \\ Naman \end{tabular} & \begin{tabular}{l} Eult Interview \\ Date \end{tabular} & \begin{tabular}{l} Hik \\ Fadintator \end{tabular} & \begin{tabular}{l} Reusen for \\ Leming: \end{tabular} & New Eniployer: & \begin{tabular}{l} How would you rank \\ company culture? \end{tabular} & \begin{tabular}{l} Would you recommend Alicla's Accouneriss as a \\ good place to work? \end{tabular} \\ \hline lolee & 9/2/202x & Miley N. & Detter Offer & \begin{tabular}{l} 21 \\ Improvements: \end{tabular} & Positive & Yes \\ \hline Plley M & 9/12/202x & Elolse T & Relocation & Unknown & Positive & Yes \\ \hline \end{tabular} 10. Review new hire documertation prior to employee record creation. 7. (1.024) Review the controls listed in the following table. For each one, identify the risks an organization would fice if those controls did not exist or were ineffective. Control Potential Risks 1. Provide notification of involuntary termination to the HR department the same day as notice is recelved. 2. Review and approve the payroll journal prior to distribution of payments. 3. Mail annual tax reports (W2s) to employees for tax filing purposes. 4, Only the HR department can extend offer letters for employment. 5. The IT department removes systems access for terminated employees in a timely manner: 6. Collect corporate credit cards in possession of an exiting employee during the exit interviow. 7. Reconcile the list of employens recehing W2s to the employee main table to verify that the company accounts for all employees. 0. Maintain a comprehensive employee handbook: 9. Employees make changes to employee personal information directly via an online portal. 10. Review new hire documentation prior to emplaye record creation. \begin{tabular}{|c|c|c|c|c|c|c|} \hline \begin{tabular}{l} Enpleye \\ Naman \end{tabular} & \begin{tabular}{l} Eult Interview \\ Date \end{tabular} & \begin{tabular}{l} Hik \\ Fadintator \end{tabular} & \begin{tabular}{l} Reusen for \\ Leming: \end{tabular} & New Eniployer: & \begin{tabular}{l} How would you rank \\ company culture? \end{tabular} & \begin{tabular}{l} Would you recommend Alicla's Accouneriss as a \\ good place to work? \end{tabular} \\ \hline lolee & 9/2/202x & Miley N. & Detter Offer & \begin{tabular}{l} 21 \\ Improvements: \end{tabular} & Positive & Yes \\ \hline Plley M & 9/12/202x & Elolse T & Relocation & Unknown & Positive & Yes \\ \hline \end{tabular} 10. Review new hire documertation prior to employee record creation