Waiting for answer This question has not been answered yet. You can hire a professional tutor to get the answer.

QUESTION

The following are procedures in the audit of Payroll: Trace a sample of prenumbered time cardsto the related paymentsin the Payroll Register and...

The following are procedures in the audit of Payroll:

1. Trace a sample of pre‐numbered time cardsto the related paymentsin the Payroll Register and compare the hours worked with the hours paid.

2. Trace a sample of payments from the Payroll Register to the related time cards and compare the hours worked with the hours paid.

a) Explain the audit objective(s) for each of the above audit procedures. 

b) Which of the two audit procedures above is more important in the audit of payroll?  Explain your answer.

Show more
LEARN MORE EFFECTIVELY AND GET BETTER GRADES!
Ask a Question