Are the audit procedures performed by Ghose sufficient to test accrued payroll tax, vacation pay, and bonuses? If not, what additional procedures should she perform? b. For each additional procedure you recommend in part a., identify the related audit objective the procedure would satisfy.
Tanvi Ghose is auditing payroll accruals for a manufacturing company. The client has accrued payroll taxes, accrued vacation pay, and accrued bonuses for salespersons as of the end of the fiscal year. Ghose performed the following audit procedures: 1. Compared all accrual balances in the current year to the prior year and noted no significant […]