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Kevin has been tasked with the audit of the payroll function for one of his firm's attestation clients. Kevin has noted that the firm's payroll
Kevin has been tasked with the audit of the payroll function for one of his firm's attestation clients. Kevin has noted that the firm's payroll period ends on the 22nd of each month. As a result of this determination, which of the following is Kevin likely to see? Kevin is likely to see discrepancies in the wage expense account because of the timing differences. Kevin is likely to see an accrual each month to wages payable to account for the timing difference. Kevin is likely to see a deferral each month to either salaries or wages payable on account of the timing difference. Kevin is likely to observe an accrual made each month to an imprest account in preparation for wage disbursements to employees
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