Employee loans to cover the cost of extra benefits or computer purchases.Contributions to long-term retirement plans.Contributions to charitable organizations, such as the United Way.Contributions to political action committees.
A.Determine at least four payroll department objectives that would be relevant to this engagement.
1.Determine the operating effectiveness of the company’s current security.
2.Determine the effectiveness and efficiency of time sheets submitted by nonexempt employees.
3.Evaluate the accuracy of Pay Right for processing all pay roll transactions.
4.Evaluate the design adequacy of the general ledger system.B.Create a list of potential risk scenarios for each objective.
