The company payroll process has the attention of all employees and impacts everyone. Because it is such a critical business process, it is important to regularly review the associated risks and controls.
KnowledgeLeader’s Payroll and Benefits Risk and Control Matrix (RCM) was a popular addition to the tools library. Sample risks include:
- Incorrect employee information is entered/processed
- Segregation of duties does not exist in key process areas
- Duplicate and/or fictitious payments are processed during payroll
- Payroll is not processed timely or accurately
If you haven’t checked it out, you should do so. Our RCMs are available to subscribers. If you are interested in the payroll topic, you might also like these tools: