From an Audit Point of View, Which One of the Following

question 36

Multiple Choice

From an audit point of view, which one of the following would NOT be an important internal control in the personnel cycle?

• A) physical control over assets and records
• B) reconciliation of total payroll expense in the general ledger with the payroll tax returns and the group certificates
• C) adequate separation of duties
• D) proper authorisation of changes in pay rates

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Definitions:

Material Services

Significant or essential services provided that contribute directly to the output of the production process or operational efficiency.

Franchisor

An entity that grants the right to use a brand, product, or operational model to an individual or entity (franchisee), typically for a fee.

Bundled Sales

The practice of selling multiple products or services together as a single combined offering, often at a discounted rate.

Software Sales Arrangement

A commercial agreement detailing the terms of sale and licensing conditions for software products between vendors and customers.