Deal of The Day! Hurry Up, Grab the Special Discount - Save 25% - Ends In 00:00:00 Coupon code: SAVE25
Welcome to Pass4Success

- Free Preparation Discussions
Mail Us support@pass4success.com
Location US
Mob_nav_barsMENU

IIA Exam IIA-CRMA Topic 2 Question 58 Discussion

Actual exam question for IIA's IIA-CRMA exam
Question #: 58
Topic #: 2
[All IIA-CRMA Questions]

Which segregation of duties would best reduce the risk of payroll fraud?

Show Suggested Answer Hide Answer
Suggested Answer: A

by Dean at Apr 03, 2023, 04:15 AM

Limited Time Offer

25%

Off

Get Premium IIA-CRMA Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel
Yuki
2 months ago
Option E: Hire a colony of honest ants to run the payroll. No way they'd ever steal a single crumb!
upvoted 0 times
Moon
1 months ago
Option E: Hire a colony of honest ants to run the payroll. No way they'd ever steal a single crumb!
upvoted 0 times
...
Moon
1 months ago
C) Human resources personnel add employees, review and submit payroll hours to the payroll department for processing, and deliver paychecks to employees.
upvoted 0 times
...
Moon
2 months ago
A) Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.
upvoted 0 times
...
...
Olen
2 months ago
I'm no math wizard, but even I can see that A is the answer. Automatic deposits? That's like locking the vault with a password!
upvoted 0 times
Olive
1 months ago
D) Human resources personnel add employees and enter employee bank information. Payroll personnel process hours, and paychecks are automatically deposited in the employee's bank account.
upvoted 0 times
...
Horace
1 months ago
That's a smart way to reduce the risk of payroll fraud.
upvoted 0 times
...
Justine
2 months ago
A) Human resources personnel add employees, and payroll personnel process hours and enter employee bank account numbers. Paychecks are automatically deposited in the employee's bank account.
upvoted 0 times
...
...
Berry
3 months ago
As an accountant, I have to go with D. Keeping the payroll processing separate from the bank info entry is crucial for preventing fraud.
upvoted 0 times
Helga
1 months ago
It's important to have checks and balances in place to prevent any potential fraud.
upvoted 0 times
...
Lacresha
2 months ago
Separating the duties of adding employees and entering bank information is key.
upvoted 0 times
...
Tamar
2 months ago
I agree, D is the best option to reduce the risk of payroll fraud.
upvoted 0 times
...
...
Eloisa
3 months ago
That's a good point, having human resources review and submit payroll hours does provide more control.
upvoted 0 times
...
Graham
3 months ago
I think C is the way to go. HR handling employee additions and paycheck delivery provides a good check and balance against the payroll department.
upvoted 0 times
Maryann
2 months ago
True, having separate responsibilities for adding employees and processing payroll definitely reduces the risk of fraud.
upvoted 0 times
...
Clorinda
2 months ago
That's a good point. Maybe option D would be even more secure since HR handles additions and payroll just processes hours.
upvoted 0 times
...
Curt
2 months ago
But wouldn't it be better if payroll personnel didn't have access to employee bank information at all?
upvoted 0 times
...
Ellsworth
2 months ago
I agree, having HR handle employee additions and payroll submission adds an extra layer of security.
upvoted 0 times
...
...
Bernardine
3 months ago
Option A looks like the best choice to me. Separating the responsibilities of adding employees, processing hours, and handling bank info reduces the risk of payroll fraud.
upvoted 0 times
...
Coletta
4 months ago
I disagree, I believe option C is better because it adds an extra layer of oversight.
upvoted 0 times
...
Eloisa
4 months ago
I think option A would be the best choice to reduce payroll fraud risk.
upvoted 0 times
...

Save Cancel