Internal Control over Financial Reporting - Core
Payroll Cycle
- Baseline Controls in Small Entities
- Entity Level Controls (Tone-at-the-Top)
- Financial Statement Close and Reporting
- General Control Activities over Technology (ITGC)
- Information Technology Application Controls (ITAC)
- Systems Development Life Cycle (SDLC)
- Purchases Cycle
- Revenue Cycle
- Payroll Cycle
- Inventory Cycle
- Treasury and Investments Cycle
- Commitment and Contingencies
- Taxes
- Shareholders’ Equity
The Payroll Cycle Playbook addresses the following areas:
-
Policy and Procedures
-
Segregation of Duties (and access rules that support SOD)
-
Payroll Processing
-
Master File Maintenance
-
Financial Reporting, and
-
Additional Considerations (IPE and Management Review Controls)