The Use of a Separate Payroll Bank Account Is Not

question 142

True/False

The use of a separate payroll bank account is not an advantageous control, because it creates more complexity in reconciliation functions for a company and invites theft.

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Definitions:

Knowledge Workers

Professional employees such as financial and marketing analysts, engineers, lawyers, and accountants, who are experts in a particular subject area and who create information and knowledge, which they integrate into the business.

BPI

Business Process Improvement is a methodical strategy that assists a company in enhancing its fundamental workflows to attain more effective outcomes.

Clerical Workers

Employees who perform administrative and office support tasks, such as typing, filing, answering phones, and data entry.

Process Metrics

Quantitative measures used to assess, compare, and improve the processes within an organization or project.