It reflects that payroll fraud is the leading category of occupational fraud in the U.S., and recommends specific payroll segregation of duties best practices including that the payroll journals and general ledger (GL) should be reconciled to the W-2s and maintaining time entry....
One payroll audit objective is to determine if there is proper segregation of duties. Which of the following activities is incompatible?A. Hiring employees and authorizing changes to pay rates. B. Preparing the payroll and filing payroll tax forms. C. Signing and distributing payroll checks. D....
The article presents a Segregation of Payroll Duties Matrix which enables payroll professionals to spot potentially conflicting duties that can lead to breaches of internal control policies and procedures. The objective of this matrix is to ensure that no one person or department handles the complete ...