The auditor knows that overstatements of payroll may result from unintentional errors or
fraud through payments to fictitious employees, payments to actual employees for hours not
worked, and payments to actual employees at higher than authorized rates.
Correct Answer:
Verified
Q1: The segregation of receiving goods from the
Q3: On delivery of the goods to stores
Q4: Employees are generally hired by the company's
Q5: The correct statement in relation to purchase
Q6: Purchases transactions relate
A) solely to the purchase
Q7: A substantive audit procedure for verifying accounts
Q8: Even though an employee's supervisor may initiate
Q9: The occurrence objective for purchases, payables and
Q10: Purchase requisitions may originate from
A) personnel manager,
Q11: The specific audit objective "accounts payable are
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