During the Current Year Being Audited, Hitech, Inc

question 62

Multiple Choice

During the current year being audited, Hitech, Inc. changed from a conventional payroll punch clock to a computerized payroll time system. Factory employees now record time in and out with magnetic cards and the IT system automatically updates all payroll records. Because of this change

• A) The auditor must audit through the computer.
• B) Internal control has improved.
• C) Without paper clock cards, part of the audit trail has been altered.
• D) The potential for payroll related fraud has been diminished.

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Definitions:

Communication Capabilities

The range of technologies, platforms, and methodologies available to individuals or organizations to convey information effectively.

Marketspace Opportunity

Potential for growth and profit in the digital or online marketplace.

Price Utility

The perceived value or satisfaction a consumer derives from purchasing a product at a given price.

Internet Users

Individuals who access and use the internet through various devices for information, communication, entertainment, or other purposes.