H/R and Payroll threats and controls

6 terms by erikrh 

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Hiring unqualified or larcenous employees

sound hiring procedure, including verification of job applicant's skills, references, and employment history

violation of employment law

thorough documentation of hiring and discharge procedures; training on current developments in employment law

unauthorized changes to payroll master file

segregation of duties; HRM, payroll calculation, and paycheck distribution; access controls; audit and review of all changes to payroll master file

inaccurate time data

automation of data collection; various edit checks; reconciliation of time card data with job-time ticket data

inaccurate processing of payroll

batch totals and other application controls; payroll clearing account; review of IRS regulations

theft or fraudulent distribution of paychecks

direct deposit; paycheck distribution by someone independent of payroll process; investigation of unclaimed paychecks; restricted access to blank paychecks; prenumbering and periodic accounting for all paychecks; use of separate payroll checking account, maintained as an imprest fund; reconciliation of payroll bank account by someone not involved in payroll processing

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