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Chapter 15

The document discusses the human resources management and payroll cycle including recruiting, training, compensation, and performance evaluation. It outlines the payroll cycle activities of updating payroll master data, validating time and attendance, preparing payroll, and disbursing payroll and taxes. It also discusses threats to payroll such as unauthorized changes and inaccurate data as well as controls to address these threats.

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Hads Luna
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48 views2 pages

Chapter 15

The document discusses the human resources management and payroll cycle including recruiting, training, compensation, and performance evaluation. It outlines the payroll cycle activities of updating payroll master data, validating time and attendance, preparing payroll, and disbursing payroll and taxes. It also discusses threats to payroll such as unauthorized changes and inaccurate data as well as controls to address these threats.

Uploaded by

Hads Luna
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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Chapter 15

The Human Resources Management and Payroll Cycle

Human Resource Management Process


•Recruit and hire new employees
•Training
•Job assignment
•Compensation (payroll)
•Performance evaluation
•Discharge of employees (voluntary or involuntary)

Payroll Cycle Activities


• Update payroll master data
• Validate time and attendance data
o Source document: time sheets
• Prepare payroll
o Payroll register and deduction register
• Disburse payroll
• Disburse taxes and miscellaneous deductions

1. Update Master Payroll Data


2. Validate Time and Attendance Data
3. Prepare Payroll

Threats Controls
1.Unauthorized changes to payroll 1. a. Access controls and segregation of duties
master data
2. a. Data processing integrity controls
3.Inaccurate updating of master data 3. a. Supervisory review
4.Inaccurate time and attendance data b. Source data automation for data capture
5.Errors in processing payroll 4. a. Data processing integrity controls
b. Supervisory review

4. Disburse Payroll
5. Disburse Payroll Taxes

Threats Controls
1. Theft or fraudulent distribution 1. a. Restrict access to blank payroll checks and
of paychecks check signing machine
2. Failure to make required b. Use separate account (imprest fund)
payments
3. Untimely payments 2. a. Configure system to make automatic
4. Inaccurate payments payments on time
3. a. Configure system to make automatic
payments on time
4. a. Process integrity controls
b. Supervisory review

Reasons to Outsource Payroll


•Reduce costs
o Cost of processing and minimize errors
•Broader range of benefits
o Administration of benefits
•Free up computer resources

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