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There have been no significant changes in the payroll processing cycle since the previous audit. The company usually employs approximately 50 employees but from March
There have been no significant changes in the payroll processing cycle since the previous audit. The company usually employs approximately 50 employees but from March to the end of June, this number increased to 80. The additional staff were casual workers. There are two staff members in the payroll department who add new employees to the payroll with no further authorisation required. and who process the payroll.
a. identify the inherent risk and steps to rectify them
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