Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

What internal control procedure(s) would be most effective in preventing the following errors or fraudulent acts? A company started using a new payroll program and

What internal control procedure(s) would be most effective in preventing the following errors or fraudulent acts?

  1. A company started using a new payroll program and recruited a payroll officer. When this staff member entered an employees name who was an existing staff member, this new system asked the payroll officer if she wanted a new employee record being created. The payroll officer then created a new record.
  2. When a staff member was no longer working for the company, there was no procedure in place to remove the payroll details from the system. The payroll officer changed this employees payment method and bank details so the wage was paid to a friend of the payroll officer.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Financial & Managerial Accounting, The Managerial Chapters

Authors: Tracie Miller Nobles, Brenda Mattison

7th Edition

0136503616, 9780136503613

More Books

Students also viewed these Accounting questions