For each of the following activities, describe the risks and associated counterbalancing controls and technology that could be used to mitigate the risks in the context of the payroll/HR function.

Activity:

1. Maintain and secure master payroll file/data

2. Provide employee paychecks

3. Provide filing of tax returns and other reports to government agencies

4. Ensure effectiveness of operations (people and computers)

5. Comply with requirements of payroll and tax laws and regulations