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Hi sir,how are you?
Sir l would like to ask how this control would achieve the the objective of accounting for wages and salaries:Independent reconciliation of total pay and deductions between one payroll and the next.What do they mean by reconciling one payroll and the nextTo “reconcile” two things is to show that they are consistent (e.g. a bank reconciliation shows that a bank balances in a company’s books is consistent with the balance per the bank’s statement). A reconciliation shows the make-up of any differences – which should obviously be verifiable.
If, for example, the Feb payroll was $125k and March’s payroll was $160K, the main difference might be that Feb was a 4-week payroll run and March a 5-week payroll run. The further increase might be attributed to new starters (or more starters than leavers) or increases in rates of pay.
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