Question 1

Organizations that might use a SAS 70 report are:

Accepted Answer

A)  application service providers. 
B)  mortgage bankers that service mortgages for others. 
C)  Both a and b. 
D)  None of the above. 
A)  application service providers. 
B)  mortgage bankers that service mortgages for others. 
C)  Both a and b. 
D)  None of the above.

Question 2

The human resources payroll cycle interfaces with the cost accounting system by:

Accepted Answer

A)  classifying costs as either product or period. 
B)  use of job time tickets to reduce payroll expense and increase WIP. 
C)  use of time sheets to bill clients. 
D)  Both a and d. 
A)  classifying costs as either product or period. 
B)  use of job time tickets to reduce payroll expense and increase WIP. 
C)  use of time sheets to bill clients. 
D)  Both a and d.

Question 3

The user company should:

Accepted Answer

A)  inspect paychecks for completeness. 
B)  inspect timecard and other input data for accuracy. 
C)  establish processing controls to detect errors. 
D)  Both a and b. 
A)  inspect paychecks for completeness. 
B)  inspect timecard and other input data for accuracy. 
C)  establish processing controls to detect errors. 
D)  Both a and b.

Question 4

In general, who is responsible for the SAS 70 report?

Accepted Answer

A)  The user auditor. 
B)  The service auditor. 
C)  The service provider. 
D)  All of the above. 
A)  The user auditor. 
B)  The service auditor. 
C)  The service provider. 
D)  All of the above.

Question 5

There are three separate components to the human resources payroll cycle.

Accepted Answer

A) True 
 B)False

Question 6

A public client uses a service provider who has received a favorable SAS 70 Type II report. The auditor can:

Accepted Answer

A)  limit his/her testing of internal controls. 
B)  decide to rely entirely on the SAS 70 report. 
C)  refer to the work of the SAS 70 auditor in the audit report. 
D)  None of the above. 
A)  limit his/her testing of internal controls. 
B)  decide to rely entirely on the SAS 70 report. 
C)  refer to the work of the SAS 70 auditor in the audit report. 
D)  None of the above.

Question 7

Substantive analytical procedures of payroll accounts provide little audit evidence.

Accepted Answer

A) True 
 B)False

Question 8

Tests of balances include:

Accepted Answer

A)  reconciling total payroll expense to payroll tax returns. 
B)  reconciling total payroll expense to tax forms. 
C)  reconciling total payroll task expense to task forms. 
D)  Both a and b. 
A)  reconciling total payroll expense to payroll tax returns. 
B)  reconciling total payroll expense to tax forms. 
C)  reconciling total payroll task expense to task forms. 
D)  Both a and b.

Question 9

Dual purpose tests for payroll involve:

Accepted Answer

A)  the transfer of money from the general bank account to the payroll bank account. 
B)  the transfer of money from the payroll bank account to the individual employees. 
C)  tracing the amounts from the payroll register to individual employee records. 
D)  All of the above. This is the same question as number 52 below 
A)  the transfer of money from the general bank account to the payroll bank account. 
B)  the transfer of money from the payroll bank account to the individual employees. 
C)  tracing the amounts from the payroll register to individual employee records. 
D)  All of the above. This is the same question as number 52 below

Question 10

Employers must submit payroll tax forms:

Accepted Answer

A)  every pay period. 
B)  every month. 
C)  every quarter. 
D)  every month or pay period, whichever is more frequent. 
A)  every pay period. 
B)  every month. 
C)  every quarter. 
D)  every month or pay period, whichever is more frequent.

Question 11

Stock compensation plans involve:

Accepted Answer

A)  valuation. 
B)  compensation expense. 
C)  vesting plan. 
D)  All of the above. 
A)  valuation. 
B)  compensation expense. 
C)  vesting plan. 
D)  All of the above.

Question 12

The human resource department:

Accepted Answer

A)  hires and fires employees. 
B)  oversees the employees' work. 
C)  is charged with authorizing changes to the payroll master file. 
D)  None of the above. 
A)  hires and fires employees. 
B)  oversees the employees' work. 
C)  is charged with authorizing changes to the payroll master file. 
D)  None of the above.

Question 13

Who writes the SAS 70 report? TYPO

Accepted Answer

A)  The user auditor. 
B)  The service auditor. 
C)  The service provider. 
D)  Any of the above depending on the circumstances. 
A)  The user auditor. 
B)  The service auditor. 
C)  The service provider. 
D)  Any of the above depending on the circumstances.

Question 14

One of management's objectives in paying employees includes:

Accepted Answer

A)  paying employees at least once a month. 
B)  withholding the proper amounts from employee paychecks. 
C)  providing legal evidence to the government of the employee's right to work. 
D)  All of the above. 
A)  paying employees at least once a month. 
B)  withholding the proper amounts from employee paychecks. 
C)  providing legal evidence to the government of the employee's right to work. 
D)  All of the above.

Question 15

Payroll fraud can consist of:

Accepted Answer

A)  paying employees more than agreed to. 
B)  paying employees less than agrees to. 
C)  paying employees vacation time. 
D)  All of the above. 
A)  paying employees more than agreed to. 
B)  paying employees less than agrees to. 
C)  paying employees vacation time. 
D)  All of the above.

Question 16

Direct deposit of net pay into a checking account often is through an ACH.

Accepted Answer

A) True 
 B)False

Question 17

Not all businesses have a human resources cycle.

Accepted Answer

A) True 
 B)False

Question 18

How do management reports produced by a public accounting firm's engagement management system for the current year engagement assist them in bidding
on the job in subsequent years? In justifying to the client human resources cost overruns
in the current year?

Accepted Answer

The firm's management reports include st

Question 19

Dual purpose tests for payroll cash disbursements involve both the transfer of money from the general bank account to the payroll account and the cash disbursements from the payroll bank account to the employees.

Accepted Answer

A) True 
 B)False

Question 20

EFT involves:

Accepted Answer

A)  Direct deposit. 
B)  A computer. 
C)  Electronic transfer of funds. 
D)  All of the above. 
A)  Direct deposit. 
B)  A computer. 
C)  Electronic transfer of funds. 
D)  All of the above.

Organizations that might use a SAS 70 report are:

The human resources payroll cycle interfaces with the cost accounting system by:

The user company should:

In general, who is responsible for the SAS 70 report?

There are three separate components to the human resources payroll cycle.

A public client uses a service provider who has received a favorable SAS 70 Type II report. The auditor can:

Substantive analytical procedures of payroll accounts provide little audit evidence.

Tests of balances include:

Dual purpose tests for payroll involve:

Employers must submit payroll tax forms:

Stock compensation plans involve:

The human resource department:

Who writes the SAS 70 report? TYPO

One of management's objectives in paying employees includes:

Payroll fraud can consist of:

Direct deposit of net pay into a checking account often is through an ACH.

Not all businesses have a human resources cycle.

How do management reports produced by a public accounting firm's engagement management system for the current year engagement assist them in bidding on the job in subsequent years? In justifying to the client human resources cost overruns in the current year?

Dual purpose tests for payroll cash disbursements involve both the transfer of money from the general bank account to the payroll account and the cash disbursements from the payroll bank account to the employees.

EFT involves:

An Introduction to Auditing

Overview of an Integrated Audit

The Auditors Role in Society

Legal Environment Affecting Audits Pt Iii Executing an Integrated Audit

Client Acceptance and Continuance and Preliminary Engagement Procedures

Audit Planning and Risk Assessment

Internal Control, Understanding the Clients Internal Control Over Financial Reporting and Auditing Design Effectiveness

Planning and Testing Operating Effectiveness of Internal Control Over Financial Reporting

Substantive Procedures and the Financial Statement Audit

Auditing Revenue Process: Sales, Billing and Collection in the Health-Care Provider and Retailing Industries

Completing the Integrated Audit and Reporting

The Acquisition and Payments Cycle and Related Accounts: Purchases, Cash Disbursements and Other Related Activities in the Automotive Industry

Auditing Inventory Processes: Tracking and Costing Products in the Land Development and Home Building Industry

Assets, Liabilities and Equity Related to the Financing Cycle

Topics Beyond the Integrated Audit

Filters

Exam 13: Auditing Human Resources Cycle Process: Personnel and Payroll in Service Industries

Organizations that might use a SAS 70 report are:

The human resources payroll cycle interfaces with the cost accounting system by:

The user company should:

In general, who is responsible for the SAS 70 report?

There are three separate components to the human resources payroll cycle.

A public client uses a service provider who has received a favorable SAS 70 Type II report. The auditor can:

Substantive analytical procedures of payroll accounts provide little audit evidence.

Tests of balances include:

Dual purpose tests for payroll involve:

Employers must submit payroll tax forms:

Stock compensation plans involve:

The human resource department:

Who writes the SAS 70 report? TYPO

One of management's objectives in paying employees includes:

Payroll fraud can consist of:

Direct deposit of net pay into a checking account often is through an ACH.

Not all businesses have a human resources cycle.

How do management reports produced by a public accounting firm's engagement management system for the current year engagement assist them in bidding on the job in subsequent years? In justifying to the client human resources cost overruns in the current year?

Dual purpose tests for payroll cash disbursements involve both the transfer of money from the general bank account to the payroll account and the cash disbursements from the payroll bank account to the employees.

EFT involves:

An Introduction to Auditing

Overview of an Integrated Audit

The Auditors Role in Society

Legal Environment Affecting Audits Pt Iii Executing an Integrated Audit

Client Acceptance and Continuance and Preliminary Engagement Procedures

Audit Planning and Risk Assessment

Internal Control, Understanding the Clients Internal Control Over Financial Reporting and Auditing Design Effectiveness

Planning and Testing Operating Effectiveness of Internal Control Over Financial Reporting

Substantive Procedures and the Financial Statement Audit

Auditing Revenue Process: Sales, Billing and Collection in the Health-Care Provider and Retailing Industries

Completing the Integrated Audit and Reporting

The Acquisition and Payments Cycle and Related Accounts: Purchases, Cash Disbursements and Other Related Activities in the Automotive Industry

Auditing Inventory Processes: Tracking and Costing Products in the Land Development and Home Building Industry

Assets, Liabilities and Equity Related to the Financing Cycle

Topics Beyond the Integrated Audit

Filters