Payroll can be many entities’ biggest expense. Industrial awards, employment contracts and regulatory compliance means that payroll can be a significant risk to manage. Good policies, procedures and systems help to reduce the risk. The session will:
- Identify risks associated with payroll and the controls that may be put in place to mitigate them
- Discuss payroll audit risks and means to gather sufficient audit appropriate on the audit assertions
- Explain audit documentation requirements, and
- Identify what items to report to management and governance.