'Recorded payroll payments are for work actually performed by non- fictitious employees' is the transaction- related audit objective for payroll of:
A) accuracy.
B) completeness.
C) existence.
D) authorisation.

Question

Quizplus · Accepted Answer

The transaction-related audit objective of existence seeks to ensure that the recorded payroll payments actually exist and that they are for work performed by genuine employees. Therefore, option C (existence) best applies to the given scenario. Option A (accuracy) is not relevant in this case, as the objective is not to verify the accuracy of the payments made, but rather to determine if they are made to legitimate employees. Option B (completeness) is also not relevant because the objective is not to determine if all payroll payments were recorded, but to determine if the recorded payments are valid. Option D (authorization) is concerned with checking if payroll payments were authorized as per organizational policies and procedures, which is not the focus of this scenario.

'Recorded Payroll Payments Are for Work Actually Performed by Non-