The Auditor Knows That Overstatements of Payroll May Result from Unintentional

question 60

True/False

The auditor knows that overstatements of payroll may result from unintentional errors or
fraud through payments to fictitious employees, payments to actual employees for hours not
worked, and payments to actual employees at higher than authorized rates.

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Definitions:

Spreadsheet Function

A pre-defined calculation in spreadsheet software that performs operations on data and returns a result.

System Software

The foundational software that controls the hardware of a computer and provides a platform for running application software.

Spreadsheet Formula

A set of instructions used in spreadsheet software that performs calculations or other actions on data.

Spreadsheet Software

An application program such as Microsoft Excel or Lotus 1-2-3 that enables a user to do calculations and numerical analyses easily.