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A . The two major balances - related audit objectives in testing payroll liabilities are ( i ) accuracy which to ensure accruals in the
A The two major balancesrelated audit objectives in testing payroll liabilities are i accuracy which to ensure accruals in the trial balance are stated at the correct amounts and ii cut off which to ensure the transactions in the payroll and personnel cycle are recorded in the proper period. The primary concern of these audit procedures is to make sure that there are no understated or omitted accruals Arens et al
Required:
Describe the common tests of details of balances procedures in testing the following major payroll liability accounts:
i Accrued salaries and wages
ii Accrued bonuses
iii. Accrued sick pay and other benefits
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