Payroll (PAY) - Normal Controls

Question 1

PAY01.1

Answer 1

All payroll Masterfile changes are approved before being updated

Question 2

PAY04

Answer 2

1. Where required for client contract billing or disclosure purposes or where required for internal client profitability purposes, does management review and approve submitted timesheets in a timely manner?

Question 3

PAY05

Answer 3

1. Where required for client billing or disclosure purposes or for internal client profitability purposes , what controls exist to give assurance over the validity and accuracy of timesheet changes?

Question 4

PAY12

Answer 4

1. Is compliance with employee termination policies and procedures, including compliance with statutory regulation and union requirements (if applicable), monitored by management, with appropriate legal advice sought as required?

Question 5

PAY16

Answer 5

1. If the company uses a payroll bureau, is the bureau responsible for managing changes to the withholding tax rates?
2. If so, does the company receive details of when the changes are made in the month they are made?

Question 6

PAY17

Answer 6

1. If the payroll is managed in house, are withholding tax rate updates restricted to authorized individuals, with all changes made to the payroll software approved by management and the data reviewed to give assurance over compliance with statutory requirements?

Question 7

PAY18

Answer 7

1. Does management monitor and review vacation time accrued by staff to give assurance it is reasonable on a quarterly basis?