The Internal Auditor Is Running a Computer-Assisted Audit Test That

question 45

Multiple Choice

The internal auditor is running a computer-assisted audit test that compares names and wage rates in the personnel files (stored on optical disk) with the wage rates in the payroll master file and the whole year's payroll transaction files.What is the purpose of these tests?

• A)to determine whether any employees were not paid in the most recent pay
• B)to check for wage rates that are under the amount specified by the union contract
• C)to help with the reconciliation of wage rates to the T4 summary
• D)to determine whether terminated employees are still being paid

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Definitions:

Total Revenues

The overall financial income stemming from the commercial sale of goods or services integral to a business's main operations.

Accounting Equation

The foundational equation in accounting that states assets equal liabilities plus owner's equity.

Office Supplies

Consumable items used in an office setting, such as paper, pens, and staplers, necessary for completing office tasks and operations.

Weekly Salary

A fixed amount of money paid to an employee on a weekly basis as compensation for performed work.