Which of the following best describes the systems of internal control for payroll for large companies?
A)Loosely structured but well controlled
B)Loosely structured and loosely controlled
C)Highly structured and well controlled
D)Highly structured but loosely controlled

Question

Quizplus · Accepted Answer

Large companies typically have highly structured systems of internal control for payroll to ensure accuracy and prevent fraud. These systems include policies and procedures for verifying employee information, documenting hours worked, approving and processing payments, and reconciling payroll records. Additionally, large companies often have dedicated payroll departments or use specialized payroll software to manage payroll processes and maintain data security. Overall, the goal of these internal controls is to maintain the integrity and confidentiality of payroll data while ensuring compliance with legal and regulatory requirements.

Which of the Following Best Describes the Systems of Internal