Multiple Choice
Once the auditor has determined the company's policy for accruing wages and knows it is consistent with that of previous years,the appropriate audit procedure to test for cutoff and accuracy is to
A) recalculate the client's accruals.
B) compare the ledger balance with the journal and the T4 form.
C) confirm the amount with employees.
D) compare the recorded accrued wages with the amount approved in the minutes of the Board.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: "Recorded payroll payments are for work actually
Q2: When the employees are paid automatically by
Q3: The correct cutoff and valuation of accrued
Q4: The human resources department would likely provide
Q5: When examining payroll transactions,an auditor is primarily
Q7: The auditor's primary concern in testing payroll
Q8: List examples of substantive test of details
Q9: The auditor should review the preparation of
Q10: A)There are several internal controls in the
Q11: Master file data is the semi-permanent data