What is Hire-to-retire (payroll) process?
In short
The hire-to-retire process covers hiring employees, setting their pay, recording time, processing payroll and handling terminations.
Key takeaways
- Human resources and payroll processing should be separate functions.
- Pay rate changes need approval, and terminated employees must be removed promptly.
- Ghost employees, fictitious people on the payroll, are the classic fraud risk.
Where it's tested
ISC: Business Processes & Automation — study notes, a five-minute revision sheet and practice questions.
Practise: 3 questions
Question 1 of 3 · 0 answered
Data flows from a payroll system to the general ledger through an automated interface each pay period. Which control best confirms the transfer was complete and accurate?