As a risk advisory consultant, you are asked to evaluate and recommend improvements for the employee onboarding process for Swiftly Tech. During your evaluation you discover that Swiftly Tech's payroll department adds employees based on an email from the HR department. The lack of controls could result in payroll fraud. What do you recommend that Swiftly Tech do to avoid potential payroll fraud?
A) Swiftly Tech could require completed new hire documentation paperwork prior to employee record creation in the payroll system.
B) Swiftly Tech could require that all employee data be secured and changes are only made by authorized individuals.
C) Swiftly Tech could schedule frequent independent reviews of new hire data in the system to ensure validity and accuracy.
D) All of these answer choices are correct.

Question

Quizplus · Accepted Answer

Each of the options provided addresses a different aspect of strengthening the controls around the payroll process to mitigate the risk of fraud. Requiring completed documentation ensures that there is a formal process and evidence for adding new employees. Securing employee data and restricting access to authorized individuals helps prevent unauthorized changes. Independent reviews of new hire data add an additional layer of oversight to catch any discrepancies or fraudulent activities.

As a Risk Advisory Consultant, You Are Asked to Evaluate