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Kenya Stanley ACC 564 February 24, 2013 CH 15 15.2 and 15.9 15.

An internal control procedure would be most effective in preventing the following errors or fraudulent acts?

a. In advertent data entry error caused an employees wage rate to be overstated in the payroll master file. Data processing integrity controls Regular review of all changes to master payroll data b. A fictitious employee payroll record was added to the payroll master file. Restrictions of access to EFT system c. During data entry, the hours worked on an employees time card for one day were accidentally entered as 80 hours, instead of 8 hours. Source data automation for data capture Biometric authentication Segregation of duties Supervisory review d. A computer operator used an online terminal to increase her own salary. Restriction of physical access

Restriction of access to payroll master database e. A factory supervisor failed to notify the HRM department that an employee had been fired. Consequently, paychecks continued to be issued for that employee. The supervisor pocketed and cashed those paychecks. Prenumbering and periodically accounting for all payroll checks and review of all EFT direct deposit transactions Require proper supporting documentation for all paychecks Verification of identity of all employees receiving paychecks f. A factory employee punched a friends time card in at 1:00pm and out at 5:00 pm while the friend played golf that afternoon. Access controls Segregation of duties: HRM department updates master data, but only payroll department issues paychecks g. A programmer obtained the payroll master file and increased his salary. Restriction of physical access Segregation of duties h. Some time cards were lost during payroll master preparation; consequently, when paychecks were distributed, several employees complained about not being paid. Backup Disaster recovery procedures i. A large portion of the payroll master file was destroyed when the disk pack containing the file was overwritten when used as a scratch file for another application. Backup Disaster recovery procedures

j. The organization was fined $5,000 for making a late quarterly payroll tax payments to the IRS. Review of IRS guideline to ensure proper classification of workers as either employees or independent contractors

15.9 What is the purpose of each of the following control procedures? a. Inaccurate or invalid master data b. Errors in processing payroll c. Theft or fraudulent distribution d. Theft or fraudulent distribution e. Errors in processing payroll f. Untimely payments g. Theft or fraudulent distribution h. Unauthorized disclosure of sensitive information i. Inaccurate or invalid master data j. Inaccurate time and attendance data k. Unauthorized changes to payroll master data l. Violations of employment laws