In Determining the Effectiveness of an Entity's Policies and Procedures

question 42

Multiple Choice

In determining the effectiveness of an entity's policies and procedures relating to the existence or occurrence assertion for payroll transactions, an auditor most likely would inquire about and:

• A)observe the segregation of duties concerning human resource responsibilities and payroll disbursement.
• B)inspect evidence that all prenumbered payroll checks are accounted for.
• C)recompute the payroll deductions for employee fringe benefits.
• D)verify the preparation of the monthly payroll account bank reconciliation.

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Definitions:

Collection Device

An apparatus or tool designed to gather or accumulate data, samples, or substances from various sources.

Decrease In Drainage

A reduction in the flow or volume of fluid being discharged from a wound or other source.

Stage 3 Pressure Injury

A type of pressure sore characterized by full-thickness skin loss, potentially extending into the subcutaneous tissue layer, but not through underlying fascia.

Granulating

The process in wound healing where new, vascular tissue forms, typically appearing as small, red, grain-like bumps.