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Auditing and Assurance Services Study Set 1
Quiz 12: Auditing the Human Resource Management Process
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Question 1
Multiple Choice
The proper use of prenumbered termination notice forms by the Payroll Department should provide assurance that all
Question 2
True/False
There are few inherent risk factors that directly affect the human resource management process and its related accounts for non-officers.
Question 3
True/False
Employees must complete a W-4 form to authorize insurance deductions from his or her pay.
Question 4
Multiple Choice
Which of the following could test the assertion of classification for payroll-related liabilities?
Question 5
True/False
The human resource function is responsible for managing the personnel needs of the organization.
Question 6
True/False
The payroll-processing function is responsible for paying employees for services and benefits.
Question 7
Multiple Choice
Which of the following circumstances most likely would cause an auditor to suspect an employee payroll fraud scheme?
Question 8
True/False
Payroll-related expenses normally are not a material cost to the organization.
Question 9
Multiple Choice
When examining payroll transactions,an auditor is primarily concerned with the possibility of
Question 10
Multiple Choice
A surprise observation by an auditor of a client's regular distribution of paychecks is primarily designed to satisfy the auditor that
Question 11
Multiple Choice
Which of the following internal control objectives is likely to be a larger concern in the audit of the payroll cycle?
Question 12
True/False
Tests of details of transactions are often conducted in conjunction with tests of controls.
Question 13
Multiple Choice
Which of the following departments most likely would approve changes in pay rates and deductions from employee salaries?
Question 14
True/False
If the results of the control tests do not support the planned level of control risk,the detection risk will have to be set higher.
Question 15
True/False
Proper segregation of duties is critical for the human resource management process.
Question 16
True/False
Inherent risk associated with officer compensation is frequently set high because officers have motive and opportunity to take advantage of their high-ranking offices in the form of excessive compensation.