Payroll Function - 18463 Words

[pic] Payroll Management Competence Framework Table of Contents 1. Introduction 3 The Payroll Profession 4 Payroll and the World of Work 5 Overall Objectives of the Payroll Management Competence Framework 6 Enabling Successful Payroll Competence Development 7 The Competence Framework Pyramid 8 Applying the CIPP Competence Framework 9 Evaluation of Payroll Management Competences 2. Payroll Management Competence Framework Core Values and Competences o Professional Values o Business Management Core Competences for Payroll o Personal Competences Profile 3. Payroll Management†¦show more content†¦The â€Å"output† of payroll professionals (paying the right people the right amount at the right time) is, however, very much valued. It is, therefore, essential in the interests of all stakeholders, and primarily of CIPP members themselves, that the standards of performance expected of members should be clearly stated in a Competence Framework and that they are understood by all concerned. Payroll and the World of Work Payroll is central to many activities in business and working life. The integrity of the payroll function, in its widest sense, is essential if business and government is to operate properly. That integrity is largely in the hands of the payroll profession. The payroll profession’s public includes taxpayers, direct â€Å"outsourced† clients, employers, employees, local and national government, and those within the business and public sector communities who rely on the independence and integrity of payroll information for: †¢ Supporting transparent remuneration policies and practice; †¢ Ensuring cost efficient and financially effective use of human resources; †¢ Demonstrating sound internal financial control within organisations; †¢ Supporting confidence in the application of the UK tax system; †¢ Assisting in sound management decision-making by ensuring the availability of timely and accurateShow MoreRelatedInternal Audit : An Essential Tool For The Payroll Function1819 Words   |  8 Pages Internal Audit is an essential tool available to the payroll function. â€Å"The role of internal audit is to provide independent assurance that an organization s risk management, governance and internal control processes are operating effectively† What is internal audit? (2015) As a new payroll system was recently installed our internal auditors were asked to look at the robustness of the payroll controls in place. A comprehensive test was carried out and a few areas of concern were raised. Read MoreAnalyzing A Copy For The Means Of Producing A Deliverable Audit Report1600 Words   |  7 Pageswebsite at https://www.sec.gov/Archives/edgar/data/354950/000035495016000060/hd-1312016x10xk.htm. (10-K The Home Depot, n.d.) Audit Areas/Functions for Internal Audit The two functions that will be reviewed during this internal audit will be the receivables, credit and collection process as well as the payroll functions. It is important to review these two functions of an organization since errors or fraudulent activity in these areas can result in the misstatement of the financial statements. If errorsRead MorePayroll System1462 Words   |  6 Pagessuccess and capacity to give services. Payroll System is one of the fundamental needs of a company. Payroll is the sum of all financial records of salaries for an employee, wages, bonuses and deductions. In accounting, payroll refers to the amount paid to employees for services they provided during a certain period of time. Payroll plays a major role in a company for several reasons. From an accounting point of view, payroll is crucial because payroll and payroll taxes considerably affect the net incomeRead MoreAudit Atas Siklus Penggajian2794 Words   |  12 PagesClock Card adalah formulir daftar hadir karyawan c. Time ticket adalah formulir yang digunakan untuk mencatat waktu kerja seseorang karyawan atas penugasan dan jabatan tertentu d. Payroll Register adalah laporan yang berisi informasi penggajian seluruh karyawan perusahaan. e. Payroll Check adalah dokumen yang berisi perintah kepada bank untuk membayarkan sejumlah uang sebagai kompensasi yang diserahkan kepadanya. f. Labor Cost Distribution Summary adalah laporan yang berisiRead MoreTrolley Dodgers Case Essay examples1574 Words   |  7 Pagesaudit objectives for a client’s payroll function. Comment on both objectives related to tests of control and those related to tests of control s and those related to substantive audit procedure. The key audit objectives for client’s payroll function in this Trolley Dodgers Case are: i. Occurrence ii. Completeness iii. Accuracy iv. Posting Summarization v. Classification vi. Timing i. Key Audit Objective : Occurrence Dodgers must recorded payroll payments for existing employees onlyRead MorePayroll System Related Studies1800 Words   |  8 Pagesthis change the researcher will design a proposed system for Robles Bakery that would therefore answer the needs or the establishment in their method of giving in their employee’s salary. The purpose of this is to make their way of computing the payroll easier. Background of the Study Robles Bakery was established on June 21, 1985, by Mr. Mario Larcia at 50 M. Paulino Street San Pablo City Laguna. Robles Bakery was came from the owner’s surname, Mr. Ruperto Robles. It aims to produce and sellRead MoreReview of Related Studies1882 Words   |  8 PagesIntranet — Base Payroll System and Attendance Monitoring System. This chapter constitutes more on the study of the System Literature Side. It covers the related view and ideas presenting other payroll system made possible by other proponents and programmers. To review encompasses the critical aspect of all Payroll System study. 1. Foreign Studies Attachà © Payroll Attachà © Payroll (1999) Key Features. Available: http://www.attachesoftware.com/products/payroll/keyfeatures.aspRead MoreChecklist for the Payroll Cycle2111 Words   |  9 PagesControls Systems Over The Payroll Cycle †¢ Internal Control Checklists For The Payroll Cycle †¢ Tests Of Control Of Payroll †¢ Internal Controls Systems Over The Stock Cycle †¢ Internal Control Checklists For The Stock Cycle †¢ Tests Of Control Of Stock INTERNAL CONTROLS OVER PAYROLL To understand the need for controls, it is helpful to break down the payroll process into its component stages. The table shows the various stages of the payroll â€Å"cycle†, together with: Read MoreInternal Auditing Final Case Study3026 Words   |  13 Pagesresponsible for conducting an assurance engagement of the XYZ Company payroll process. This process has not been audited for three years and, as such, is due in the normal audit cycle. There have been no significant changes since the previous audit, that is, there were no system changes, no reorganization of personnel, and no substantive procedural changes. However, during the last assurance engagement, the internal audit function identified several observations, some of which were considered significantRead MoreOrg Behavior5012 Words   |  21 PagesBeanCounters. We began our investigation by reviewing different financial documents obtained from Tallahassee BeanCounters as well as information provided to us by others within the organization covering the period from April through July. We analyzed payroll documentation from Tallahassee BeanCounters and ADP, purchase orders, invoices, and shipping receipts for various equipment purchases. We examined concession purchases, and analyzed sales of tickets, parking, programs, concessions, and promotional