Creating a Payroll Audit Program that Balances Both Efficiency and Effectiveness
Description: Developing an audit program for Payroll that effectively mitigates the risks associated with this crucial process area, but does not require significant resources to administer, is a balancing act that all companies face. During this Peercast, we will review the steps our feature company took to develop their Payroll audit program and how that has improved their overall Payroll operation.
Peercast Poll Results
Poll Title: Creating a Payroll Audit Program that Balances Both Efficiency and Effectiveness
Background: Developing an audit program for Payroll that effectively mitigates the risks associated with this crucial process area, but does not require significant resources to administer, is a balancing act that all companies face. This poll looks at resource trends in the Payroll audit function and opportunities that exist to improve efficiency and effectiveness in this area.
Poll Question: What has been the general trend at your company over the last several years in terms of time / resources that are devoted to the Payroll audit process?
| Time / resources have significantly increased | 17% | |
| Time / resources have increased somewhat | 33% | |
| Time / resources have not noticeably changed | 33% | |
| Time / resources have decreased somewhat | 17% | |
| Time / resources have significantly decreased | 0% |
Poll Question: Where do you believe the most significant opportunities exist at your company to improve efficiency and effectiveness in the Payroll audit process?
| Improving the operational audit process | 17% | |
| Improving coordination / audit preparation with Internal Audit | 0% | |
| Improving coordination / audit preparation with external auditors | 9% | |
| Improving technology | 43% | |
| Better utilizing audit findings to make process improvements | 22% | |
| Improving communication with operational units | 9% | |
| Other (please comment) | 0% |