ACCA F8 考官文章分析
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Relevant to Paper ACCA Qualification Paper F8 (INT) and (UK)
appen in circumstances where
the authorisation of overtime is not properly controlled or details of overtime input during
the preparation of the payroll are not independently reconciled to authorised totals for the week.
The common feature that often facilitates these frauds is inadequate segregation of duties. Frauds can be difficult to prevent where there is collusion among staff. Historically organisations have lost significant sums when large numbers of staff came to expect the routine inclusion of unauthorised overtime in their pay.
AUDIT WORK ON WAGES
Most of the audit work on the wages system should be performed during the interim audit but some substantive procedures to confirm payroll costs and wage accruals should normally form part of the final audit.
Interim audit work on wages should involve the normal stages of recording, evaluating and testing internal controls.
WAGES CONTROL OBJECTIVES
Typical control objectives for wages include the following:
To ensure that employees are only paid for work done.
To ensure that wages are only paid to valid employees.
To ensure that all wages are authorised
To ensure that wages are paid at the correct rates of pay
To ensure that wages are correctly calculated.
To ensure all wages transactions are correctly recorded in the books of account.
To ensure that all payroll deductions are paid over to appropriate third parties (for example, tax authorities)
EVALUATION OF THE INTERNAL CONTROL SYSTEM
The evaluation should be performed by considering if controls exist to ensure specified control objectives are met.
Auditors often complete questionnaires to assist in system evaluation. Internal Control Questionnaires (ICQs) ask specific questions about controls relevant to each c
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