Multiple Choice
From an audit point of view, which one of the following would NOT be an important internal control in the personnel cycle?
A) Reconciliation of total payroll expense in the general ledger with the payroll tax returns and the group certificates
B) Adequate separation of duties
C) Proper authorisation of changes in pay rates
D) Physical control over assets and records
Correct Answer:

Verified
Correct Answer:
Verified
Q23: Commission expense is calculated as a percentage
Q53: For good internal control, the payroll function
Q61: The use of statistical sampling is less
Q79: In the audit of inventory, the client
Q90: A substantive test of transactions commonly used
Q91: 'Recorded payroll transactions are for the amount
Q93: When testing inventory items for pricing, the
Q94: The overall objective of the audit of
Q96: Inherent risk is often assessed as relatively
Q108: A document received from the vendor indicating