following audit procedures (Click the icon to view the au ad the requirements mplete all answers boxes for e Audit procedures Obtain a schedule of all payroll liabilities and trace to the general ledger Discuss with management any payroll liabilities recorded in the prior year that are not provided for in the current period Scan journals for all periods for unusual transactions to determine whether they are recorded correctly 1. 2. 3. 4. Select a sample of 40 entries in the payroll journal and trace each to an 5. Examine owner approval of rates of pay and withholdings. approved time card. 6. Examine evidence that payroll hours and wage rates are verified by an 7. Select a sample of 20 cancelled payroll checks and account for the 8. Review board of director meeting minutes to venify the salary for the chief 9. Compute payroll tax expense as a percentage of total wages, salaries, and 10. Select a sample of 20 payroll payments and trace to payroll jounal entries independent person. numerical sequence executive officer for name, date, and amounts 10 Print Done oose from any drop-down list and then continue to the next question Requirement a. b. 3 (1) Test of control (1) Test of control and (2) Substantive test of transactions (1) Test of control and (3) Substantive analytical procedure 5, (2) Substantive test of transactions 6. (3) Substantive analytical procedure 7. (4) Test of details of balances 10. b. NIA Accuracy Classification Completeness Occurrence Occurrence and Accuracy Occurrence, Timing, and Accuracy Posting and summarization l Timing to the next question e table below. Requirement b. C. N/A Accuracy Classification Completeness Cutoff Detail tie-in Existence Realizable value Rights and obligations e next question. McGill University following audit procedures (Click the icon to view the au ad the requirements mplete all answers boxes for e Audit procedures Obtain a schedule of all payroll liabilities and trace to the general ledger Discuss with management any payroll liabilities recorded in the prior year that are not provided for in the current period Scan journals for all periods for unusual transactions to determine whether they are recorded correctly 1. 2. 3. 4. Select a sample of 40 entries in the payroll journal and trace each to an 5. Examine owner approval of rates of pay and withholdings. approved time card. 6. Examine evidence that payroll hours and wage rates are verified by an 7. Select a sample of 20 cancelled payroll checks and account for the 8. Review board of director meeting minutes to venify the salary for the chief 9. Compute payroll tax expense as a percentage of total wages, salaries, and 10. Select a sample of 20 payroll payments and trace to payroll jounal entries independent person. numerical sequence executive officer for name, date, and amounts 10 Print Done oose from any drop-down list and then continue to the next question Requirement a. b. 3 (1) Test of control (1) Test of control and (2) Substantive test of transactions (1) Test of control and (3) Substantive analytical procedure 5, (2) Substantive test of transactions 6. (3) Substantive analytical procedure 7. (4) Test of details of balances 10. b. NIA Accuracy Classification Completeness Occurrence Occurrence and Accuracy Occurrence, Timing, and Accuracy Posting and summarization l Timing to the next question e table below. Requirement b. C. N/A Accuracy Classification Completeness Cutoff Detail tie-in Existence Realizable value Rights and obligations e next question. McGill University