Payswell Company, a small manufacturer, has been in business for 10 years. Senior management is thinking about outsourcing the companys payroll process.

a. What are the potential benefits of outsourcing the payroll process?

b. What new risks may arise if the process is outsourced?

c. How should Payswells management:

1. Identify the key controls over the outsourced payroll process?
2. Determine whether those controls are designed adequately and operating effectively?

**This is an internal audit question. Pls give a detailed answer for above question.**