Question

find current techniques used to prevent payroll fraud. Discuss what you see as the advantages and disadvantages of what you found.

Answer 1

Answer)

1) No single employee handles all payroll operations.

Advantage:No employee have total control.

Disadvantages:If regular rotation not happen,then there is risk of all the employee coordinating to each other making chances for fraud.

2)Maintaining physical records for only required with great security.

Advantage:The computer have security features like passwords etc to Maintain confidentiality.

Disadvantage:Although it provides good security still there are risks.

3)Previlage access meaning providing permissions only for accomplishing the job of the user.

Advantage:Not every employee can access every information.

Disadvantage:Absence of certain security the features the user can modify his job related data like attendence etc.

4)Outsourcing the payroll jobs.

Advantages:Fast and reliable services.

Disadvantages:Chances for leakage confidential payroll information to the competitors.