Even Though the Tests of Controls Are the Most Important

question 43

Essay

Even though the tests of controls are the most important part of testing payroll,many auditors spend little time in this area.In many audits,there is a minimal risk of material misstatements,even though payroll is frequently a significant part of total expenses.Explain the reasons the auditors have for justifying this position.

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Definitions:

Janitorial Duties

Tasks involved in the cleaning and maintenance of buildings and grounds, such as sweeping, mopping, trash removal, and minor repairs.

Gender Gap in Earnings

The disparity between women's and men's earnings, often measured as the ratio of women's to men's median annual earnings among full-time, year-round workers.

Decreased

signifies a reduction in size, quantity, quality, or intensity of a particular entity or phenomenon.

Canadian

Relating to Canada, its inhabitants, their culture, or distinctive qualities.