Bank Expenditure Payroll Cycle: Control Objectives and Audit Work Program

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The principal objective of this tool is to help department management analyze the effectiveness of the internal control structure over financial reporting for the expenditure payroll cycle at a bank. The internal control structure at the cycle level consists of the management control structure (MCS) and the business process controls implemented in the transaction cycle.

This tool suggests an approach to evaluate the MCS within the cycle. The following MCS components are specifically addressed: assess external and internal risks, establish the control environment, and provide reliable and relevant information/support communication processes.

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