ipl-logo

HRM/Payroll Cycle Case Study

2000 Words8 Pages

1. Human resource management (HRM) and Payroll Cycle
The HRM/Payroll Cycle of the computer game company comprises the six major activities: recruiting of new staff, training, job assignment, compensation, performance evaluation and discharge of employees due to termination. The ERP system supports the HRM/Payroll Cycle in various ways whereby an integrated database is used. This database integrates all HR related master data, payroll-, time card-, job-time tickets- as well as general ledger data. An overview of the ERP system involvement in the cycles can be found in the Appendix (Romney&Steinbart, 2015).
In general, several threats related to the entire HRM/Payroll Cycle can be identified (Romney&Steinbart, 2015). These threats should be …show more content…

Internal controls are procedures that aim at ascertaining that certain objectives can be achieved. These comprise particularly the protection of assets, the accuracy and completeness of records, the reliability of information, the improvement of operational efficiency and the compliance with internal and external regulations. The development of an appropriate internal control concept requires a sound understanding of the computerized processes of a firm as many of the automatic procedures involve risks. Internal control systems provide three important types of controls. Preventive controls aim at avoiding errors before they arise, such as segregation of duties. Detective controls focus on detaining errors during the performance of the steps that have not been prevented. An example is the verification of calculations. Corrective controls are deployed to identify and to correct mistakes after they have occurred. This applies for instance to the correction of erroneous data records. The COSO and COBIT frameworks are suggested as appropriate tools to implement internal controls. Thus, the application of one of these tools can enhance the reliability of the computer game company’s HRM/Payroll Cycle since adequate mechanisms and controls can be identified to mitigate the prevalent risks. Regarding internal controls, SOX requires listed companies in the US to prepare so-called Section 404 reports which demand the assessment, a confirmation of the effectiveness and a consideration of material weaknesses of internal controls. Thereby, the internal control evaluation of public companies in the US has to be based on a framework that is recognized by the SEC (Romney&Steinbart,

Show More
Related

  • Fmla Leave Case Summary

    1454 Words  | 6 Pages

    Bloom informs clinic of her pregnancy HealthPartners employed Jennifer Bloom as a certified medical assistant at Coon Rapids Clinic from 2004 until 2012. Before her termination, she used FMLA leave twice for the birth of her two children. In March 2012, Bloom learned that she was pregnant with her third child.

    Read More

  • Nt1310 Unit 4 Systems Analysis

    49 Words  | 1 Pages

    • The four major systems each have its own database and interfaces had to be built for them to all communicate with each other. This is caused information to show in multiple formats and is difficult to reconcile. Providing accurate reports for banking and government regulators is very challenging.

    Read More

  • JGT1 Task 3

    965 Words  | 4 Pages

    I accumulated information through several of sources. The Washington Post published an article on this subject March 2013. To gain further insight on the subject, I searched and found an article published by HR Daily Advisor, created in April

    Read More

  • Dentistar Inc Internal Audit Case Solution

    1287 Words  | 6 Pages

    The purpose of internal controls audit is to verify and certify that all the internal control processes are functioning as required. It is vital to carry out internal controls audit because

    Read More

  • COBIT V4.1 Framework

    993 Words  | 4 Pages

    Process Controls (PC) each COBIT process has genetic control requirements that are identified by PCn for process control number. They should be considered together with the process control objectives to have a complete view of control requirements. 6. Application Controls(AC) COBIT assumes the design and implementation of automated application controls to be responsibility of IT, which is covered in the Acquire and Implement domain based on business requirements defined using COBIT’s information criteria. The COBIT IT processes cover general IT controls, but only the development aspects of application controls.

    Read More

  • What Is Punitive Approach To Discipline

    1166 Words  | 5 Pages

    In this milestone we will be looking at a few key items of employee and labor relations. Some items that this paper will cover are things such as employee discipline, performance management and employee and labor relations. First, we will start by looking at employee discipline. Employee Discipline: Analyze punitive and nonpunitive disciplinary approaches, and explain their impacts on employee relations. When talking about employee discipline there are two schools of thought.

    Read More

  • Protiviti Case Study Examples

    1164 Words  | 5 Pages

    Protiviti is a global consulting firm that helps companies solve problems in finance, technology, operations, governance, risk and internal audit. Through their network of more than 70 offices in over 20 countries, they have served more than 40 percent of FORTUNE 1000® and FORTUNE Global 500® companies. They also work with smaller, growing companies, including those looking to go public, as well as with government agencies. Protiviti is a wholly owned subsidiary of Robert Half. Founded in 1948, Robert Half is a member of the S&P 500 index.

    Read More

  • IT Infrastructure Audit Case Study

    2512 Words  | 11 Pages

    One example includes a financial audit or an IT infrastructure audit. Data will be given within this paper to address specific issues that might reside within the IT infrastructure audits. It is important to note that each audit process is specific to the tasks and objectives that are to be achieved. IT infrastruction audit processes, goals, controls, objectives and plans are all associated with IT infrastructure auditing (Ifinedo, 2012).

    Read More

  • Swot Analysis For United Airlines

    1005 Words  | 5 Pages

    Q1.a When talking about environment in general, we think of the surrounding things that have an ability to affect. Same is applied with marketing environment. Marketing environment is the collection of all of the surrounding actors and forces that have the power to affect the company 's ability to do its job in having good relationship with target customers and satisfying their needs (Kotler, Armstong, Tolba, Habib, (2011). Marketing environment consists of internal and external factors that have direct affect on the marketing program. Internal factors (or the microenvironment) are the ones closed to the company, for instance, the company, it 's suppliers, the marketing intermediaries, competitors, public and customers.

    Read More

  • Case Study Of Google's Human Resources

    1761 Words  | 8 Pages

    I. OVERVIEW Google’s human resource management involves different strategies to address the workforce needs of this diversified business organization. This diversification imposes significant challenges to human resource managers of the company. Nonetheless, there are certain HRM approaches that are generally applied to different areas of Google. For instance, in human resource planning, Google’s HR managers focus on the effective use of forecast information to minimize the surplus or shortage of employees, and to establish a balance between the supply and demand for qualified employees.

    Read More

  • Walmart Human Resource Management Analysis

    1275 Words  | 6 Pages

    INTRODUCTION Human resource management is the strategic approach to the management of an organization 's most valued assets - the people working there who individually and collectively contribute to the achievement of the goals of the business (Armstrong, M., 2006). In other words, human resource management is a to work with employees, and for the employees, to help them solve their problems. Therefore, human resource is a complicate department, as they deal with people who already work there, they also deal with several issues which happen among new employees, such as recruitment, selection and so on. Nowadays, employee retention becomes one of the most significant issue in the organizations, and managers are aiming to find the best employees

    Read More

  • Walmart's Theory Of Constraints

    1157 Words  | 5 Pages

    As it is compared with Walmart as well since Walmart has executed theory of constraints in its company and now as a retailer, Target Corporation has potential to implement the theory of constraints within the organisation in order to sustain with the company’s objective and to achieve the company’s critical success factors. Goldratt defends financial measures as the primary basis for evaluating the goal of the organisation (which is economic in nature). The same author goes on to state that; non- financial measures are equivalent to anarchy. Theory of Constraints proposes the use of three measures closely related to what the company pursues in its actions, i.e. goal. The three measures: net income, return on capital employed and cash flow are very important because they generate answers to the questions that matter most managers, such as: 1.

    Read More

  • The Harvard Model Of HRM

    983 Words  | 4 Pages

    Human Resource outcomes. 5. Long-term consequences. 6. Feedback loop.

    Read More

  • Literature Review On Employee Performance

    1158 Words  | 5 Pages

    1.4.1 Literature Review HRM practices are a process of engaging, motivating, and maintaining employees to ensure the organizational survival (Schuler and Jackson, 1987). According to (Delery and Doty, 1996) HRM practices are prepared and implemented in a way that human capital plays important role in achieving the goals and objectives of the organization. The appropriate use of HRM practices strongly influence the standard of employer and the degree of employee commitment (Purcell, 2003). HRM practices like, training and development, performance appraisal allow the employees to do better in order to enhance the organizational performance (Snell and Dean, 1992; Pfeffer, 1998).

    Read More

  • Swot Analysis Of Hospital

    2253 Words  | 10 Pages

    Administration and operations are the two major areas covered under HR. Human Resource Management is a wing of the organization, which is formulated to maximize the employee performance in serving the employer’s objectives. HR concentrates on people management within the organization. HR departments carry out the activities like employee benefit schemes, design employee recruitment procedures, training and development methodologies, managing performance appraisal of

    Read More

More about HRM/Payroll Cycle Case Study

Open Document