A COMPANY HAS RECENTLY OURSOURCED ITS PAYROLL PROCESS TO A THIRD-PARTY SERVICE PROVIDER. AN AUDIT TEAM WAS SCHEDULED TO AUDIT PAYROLL CONTROLS IN THE ANNUAL AUDIT PLAN PREPARED PRIOR TO THE OUTSOURCIN
A COMPANY HAS RECENTLY OURSOURCED ITS PAYROLL PROCESS TO A THIRD-PARTY SERVICE PROVIDER. AN AUDIT TEAM WAS SCHEDULED TO AUDIT PAYROLL CONTROLS IN THE ANNUAL AUDIT PLAN PREPARED PRIOR TO THE OUTSOURCING. WHAT ACTION SHOULD THE AUDIT TEAM TAKE, CONSIDERING THE OUTSOURCING DECISION? A. CANCEL THE ENGAGEMENT, BECAUSE THE PROCESSING IS BEING PERFORMED OUTSIDE THE ORGANIZATION? B. REVIEW ONLY THE CONTROLS OVER PAYMENTS TO THE […]
