Payroll Flashcards
1
Q
What are the key assertions?
A
- Completeness
- Accuracy
- Occurrence
2
Q
What are the sources of evidence?
A
- Payroll Control Account
- Payroll Payment Listing
- Payslips
- Contracts of Employment
- Hourly Rates of Pay
- Timesheets
- Bank Statements & Cash Book
- Starters & Leavers Forms
3
Q
What can you do with the payroll control account?
A
Agree the total wages and salaries expense per the payroll control account to the general ledger and the financial statements - completeness & presentation.
4
Q
What can you do with the payroll payment listing?
A
Cast the monthly payroll listings to verify the accuracy of the payroll expense - accuracy.
5
Q
What can you recalculate?
A
Recalculate the gross and net pay for a sample of employees and agree to the payroll records - accuracy.
