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Risk base Audit
Which elements of the payroll should be considered in a risk base audit?
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You need to prepare a walthrough and process note first to identify risk and related controls and decide stratergy accordingly. Generally speaking, PF, Actual Payment, Gratuity Provision input data, leave data, joiners and leavers, increments nd bonus are key areas in any payroll audit. Assertions you need to check are completeness, occurence, value, existence
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