Exam 9: Human Resources and Payroll Processes

Machiko joined the HR department at Takano Accounting. Takano has asked Machiko to evaluate the well-documented employee termination process for Takano. Machiko has identified that despite Takano being a public accounting firm, the company often sets exit interviews and final employment dates several days employees voluntarily resign. Takano may be at risk of

Payroll accounting includes contributions to pre-tax accounts that can be spent on specific expenses. Which of the following is an example of a use for pre-tax account?

As a risk advisory consultant, you are asked to evaluate and recommend improvements for the employee onboarding process for Swiftly Tech. During your evaluation you discover that Swiftly Tech's payroll department adds employees based on an email from the HR department. The lack of controls could result in payroll fraud. What do you recommend that Swiftly Tech do to avoid potential payroll fraud?

What kind of human resource (HR) model allows for certain administrative tasks to be performed by a third party?

What type of payroll processing control is designed to prevent unauthorized payroll transactions being processed?

Which employee onboarding action may prevent high employee turnover?

For what reasons do employee terminations present risks to a company?

Payroll expenses reduce

At what phase of maturity would a company be that has implemented a HR and payroll module in a fully integrated enterprise resource planning system?

Which of the following statements concerning payroll taxes is TRUE?

Mario works in the human resources (HR) department of the Jimmy Sub Corporation. Mario's focus in HR involves employee hiring and transition. Which of the following employee activities will require Mario's involvement for the HR department?

What type of control activity is implemented to prevent financial losses related to fraudulent payments to terminated employees?

As a risk advisory consultant, you are asked to evaluate and recommend improvements for the employee onboarding process for Swiftly Tech. During your evaluation you discover that Swiftly Tech's new hires often fail to understand company policies. What action do you recommend that Swiftly Tech take?

Gross pay is comprised of

What is the primary determinate of the balance between the amount of time an employee spends earning a salary and the satisfaction received during leisure time?

Employee termination analytics may lead to improvements in business processes and departmental operations. What type of analytics may identify potential issues with specific managers?

The primary purpose of a company is to

Henri joined a public accounting firm as an intern for the summer. Henri's final project involved evaluating the firm's employee termination control activities with a goal of developing additional control activities to prevent unnecessary reputation damages for the firm. Which of the following control activities might Henri suggest?

Which off the following is a factor to consider when determining a company's degree of integration in HR and payroll systems?

Which of the following is NOT a factor to determine a company's degree of integration in HR and payroll systems?