You Have Been Working on the Audit of Ballistic Defence

question 47

Essay

You have been working on the audit of Ballistic Defence Company for several years now.There are about 15 000 employees working at the company in various positions.
Recently,the company contracted for a new customized payroll system,which is to be implemented next month.You have been asked to assess the acceptance testing plan that is being prepared by accounting staff.In particular,they want you to help assess controls that will improve the accuracy of information entered into the new computer system.
The company uses mainframe computing systems.Assume that the typical payroll information is available on computer files (i.e. ,employee number,employee name,social insurance number,department code,payment type code (salaried or hourly),time worked,wage rate,gross pay,deductions (by type),net pay,and cheque number).
Required:
Identify the tests that should be conducted by the company's accounting staff with respect to accuracy before accepting the software.

Evaluate the role of material possessions in defining success and meaning in life.

Interpret Camus's philosophy on struggle, happiness, and the meaning of life.

Examine the role of suffering in life's meaning and the imagery used to convey this concept.

Analyze the nature and language of relationships in the quest for meaning.

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Definitions:

Ending Inventory

The ultimate worth of merchandise up for sale at the termination of a fiscal period.

Overstated

A situation where the reported value or figures are higher than the true or accurate value, often unintentionally.

Cost of Goods Sold

The direct costs attributable to the production of goods sold by a company, including materials and labor.

Average Number

A value found by adding all numbers in a set together and then dividing by the quantity of numbers in that set.