Acquire knowledge on:
- Threats and vulnerabilities in the payroll process
- Different frauds that can be perpetrated within the payroll Management and Processing Activity
In any kind of business that issues payroll cheques to employees, the possibility of payroll fraud exists. But what is Payroll Fraud? The Association of Certified Fraud Examiners (ACFE) 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.” In fact, Payroll Fraud according to the ACFE, is the number one source of fraud and employee theft.
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 have the opportunity to pay themselves bonuses when none are warranted. By falsifying their wages, employees have the opportunity to pilfer from an organisation and personally profit.
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