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OA company recently hired a payroll service provider to process its payroll-that service provider has essentially...

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Accounting

OA company recently hired a payroll service provider to processits payroll-that service provider has essentially taken over thepayroll function, and payroll represents OA's largest expense.Comment on the following statement: OA's auditors should makecertain that the payroll service provider's most recent financialstatements are audited, and that the related audit report includesno indication of a weakness in internal control related toprocessing its own payroll.

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OAs auditors should make certain that the payroll service providers most recent financial statements are audited and that the related audit report includes no indication of a weakness in internal control related to processing its own payroll Comment Purpose of the audit of most recent financial statements are audited To insure the effective operations of an payroll service provider To review compliance with a multitude of administrative regulations of payroll service provider To instill a sense of confidence in management that the payroll service provider is    See Answer
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