Questions from Auditing and Assurance

Q: In auditing payroll withholding and payroll tax expense, explain why emphasis

In auditing payroll withholding and payroll tax expense, explain why emphasis should normally be on evaluating the adequacy of the payroll tax return preparation procedures rather than the payroll tax...

Q: List several analytical procedures for the payroll and personnel cycle and explain

List several analytical procedures for the payroll and personnel cycle and explain the type of misstatement that might be indicated when there is a significant difference in the comparison of the curr...

Q: Explain the circumstances under which an auditor should perform audit tests primarily

Explain the circumstances under which an auditor should perform audit tests primarily designed to uncover fraud in the payroll and personnel cycle. List three audit procedures that are primarily for t...

Q: Distinguish among a payroll master file, a W-2 form

Distinguish among a payroll master file, a W-2 form, and a payroll tax return. Explain the purpose of each.

Q: List the supporting documents and records the auditor will examine in a

List the supporting documents and records the auditor will examine in a typical payroll audit in which the primary objective is to detect fraud.

Q: Why are liability accounts included in the capital acquisition and repayment cycle

Why are liability accounts included in the capital acquisition and repayment cycle audited differently from accounts payable?

Q: If an audit client does not have prenumbered checks, what type

If an audit client does not have prenumbered checks, what type of misstatement has a greater chance of occurring? Under the circumstances, what audit procedure can the auditor use to compensate for th...

Q: List five types of authorizations in the payroll and personnel cycle and

List five types of authorizations in the payroll and personnel cycle and state the type of misstatement that is likely to occur when each authorization is lacking.

Q: Explain why it is common to verify total officers’ compensation even when

Explain why it is common to verify total officers’ compensation even when the tests of controls and substantive tests of transactions results in payroll are excellent. What audit procedures can be use...

Q: Explain what is meant by an imprest payroll account. What is

Explain what is meant by an imprest payroll account. What is its purpose as a control over payroll?