Reviews and determines effectiveness of controls, accuracy of financial records, and efficiency of operations for management in an organization with a special focus on payroll.
- Payroll Audit
- Confirms the accuracy of the payroll system, including proper payment to all employees.
- Reviews all sources documents for bonus calculation and payment.
- Review compensation plans to determine if reasonable and appropriate.
- 100% audit each payperiod (twice a month).
- Studies accounting and statistical records of departments, and interviews individuals to ensure recording of transactions and compliance with applicable laws and regulations.
- Determines efficiency and protective value of accounting systems.
- Inspects items in books of original entry to determine if accepted accounting procedure was followed in recording transactions.
- Analyzes data obtained for evidence of deficiencies in controls, duplication of effort, extravagance, fraud, or lack of compliance with laws, government regulations, and management policies or procedures.
- Prepares reports of findings and recommendations for management.
- Cooperates with outside auditors in any undertaking that may expedite their work.
- May conduct special studies for management, such as those required to discover mechanics of detected fraud and to develop controls for fraud prevention.
- May audit employer business records to determine unemployment insurance premiums, liabilities, and employer compliance with state tax laws.