Known & Unknown
of Payroll Governance
In any kind of business that issues payroll checks to employees, the possibility of payroll fraud exists. There are various ways payroll fraud can be perpetrated. The Association of Certified Fraud Examiners 2015 Report to the Nation on Occupational Fraud and Abuse refers to payroll fraud as “any scheme in which an employee causes his or her employer to issue a payment by making false claims for compensation.” Falsified Wages How It’s Done Falsified wages involves employees claiming compensation for hours not worked or falsifying their timesheets or timecards in some fashion. Accounting or payroll personnel with access to the payroll system can manipulate the rates of pay or the hours worked. They may even pay themselves bonuses when none are warranted. By falsifying their wages, employees could pilfer from an organization and personally profit. Safeguards to Prevent It.
The black and white swans of Payroll is unique course that educates personnel managing the payroll process the threats and vulnerabilities facing their activity. The course also enlightens them on FRAUD that can be perpetrated in the absence of controls. and vulnerabilities
Learning Objectives
- Learn and understand the Threats and vulnerabilities in the payroll process
- Learn and understand the Different frauds that can be perpetrated within the payroll Management and Processing Activity
- Learn and Develop controls – Physical, Administrative and Technical to combat payroll fraud
- Payroll Threats and Vulnerabilities Map
- Payroll – Audit Objectives and Methodology
Target Audience
- Chief Compliance Officers/Heads of Compliance/Governance/Risk
- Compliance Managers and senior GRC staff
- Senior Risk staff
- Managers with Governance responsibility
- Senior Internal and External Audit staff
- Staff dealing with CSR and/or ESG
- Company Secretaries
- Accountants
- Legal Practitioners
- Regulatory Representatives
- Company Directors/Board Members/Executives
Module Outline
- Understanding of key concepts in the world of Payroll GovernanceModule 1-
- Deliberation of framework and strategies in the space of Payroll GovernanceModule 2-
- Prevention and Detection controls to combat Payroll FraudModule 3-
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