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controls over transaction question, can someone help answer that

Forums › FIA Forums › MA1 Management Information Forums › controls over transaction question, can someone help answer that

  • This topic has 1 reply, 2 voices, and was last updated 8 years ago by Ken Garrett.
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  • February 7, 2017 at 7:12 am #371070
    castrofane23
    Member
    • Topics: 1
    • Replies: 0
    • ☆

    A company pays its employees a basic wage and often extra amounts for overtime
    worked. Payments are made and other information is collected on the basis of time-sheets
    that are completed weekly by each employee.
    Describe controls that the company could use to ensure that:
    (a) All overtime has been properly worked
    (b) A time sheet is obtained from each employee
    (c) The total hours on each time sheet have been correctly added up.

    February 8, 2017 at 2:41 pm #371621
    Ken Garrett
    Keymaster
    • Topics: 10
    • Replies: 10589
    • ☆☆☆☆☆

    (a) Should be signed by the employees’ line managers

    (b) Time sheets should be matched to a list of employees so that missing ones can be identified

    (c) The additions should be independently recalculated

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