What Key Separation of Duties Should the Auditor Expect to Find

question 126

Essay

What key separation of duties should the auditor expect to find within the payroll and personnel cycle?

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Definitions:

Fixtures

Items that are originally personal property but become real property when attached in a permanent manner to real estate.

Furnishings

Items designed to make a space such as a room or building suitable for living or working in, including furniture, floor coverings, and decorations.

Limitations Period

A set period of time within which a legal claim must be filed or be permanently barred.

Breach

A violation or infringement of a law, obligation, standard, or agreement.