An Internal Control Questionnaire for Payroll Processing Occurrence Assertion Would

question 28

Multiple Choice

An internal control questionnaire for payroll processing occurrence assertion would not include which of the following questions?

• A)Are names of terminated employees reported in writing to the payroll department?
• B)Is the payroll compared to personnel files periodically?
• C)Are checks distributed by the employee's immediate supervisor?
• D)Are all wage rates determined by contract or approved by a personnel officer?.

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Definitions:

Procurement Outsourcing

The practice of hiring external organizations to manage procurement functions to save costs and improve efficiency.

Source-to-Contract

Encompasses the entire procurement process from identifying potential suppliers to negotiating and finalizing contracts with chosen suppliers.

Procure-to-Pay

An end-to-end process in the procurement function that starts with sourcing and ends with payment for the procured goods or services.

Insourcing

The practice of conducting business processes or services internally rather than outsourcing them to third-party firms.