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Ghost employee definition

Accounting Tools

A ghost employee is a person who is on an employer's payroll , but who does not actually work for the company. Someone in the payroll department creates and maintains a ghost employee in the payroll system, and then intercepts and cashes the paychecks intended for this person. What is a Ghost Employee?

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Types of payroll fraud

Accounting Tools

Payroll fraud is the theft of cash from a business via the payroll processing system. There are several ways in which employees can commit payroll fraud, as noted below. Among the more common types of payroll fraud are not paying back an advance, buddy punching, and time sheet padding.

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Examples of corporate fraud

Accounting Tools

Related Courses Fraud Examination Fraud Schemes How to Audit for Fraud There are a number of ways in which a corporation can commit fraud. Usually, the potential amount of funds diverted increases with the seniority of the job title of the individual committing the fraud. Here are several examples.

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Types of audits

Accounting Tools

There are many types of audits that can be conducted, as noted below. This is the most commonly conducted type of audit, and is required for all publicly-held companies. Payroll Audit A payroll audit is a detailed review of the information used to calculate employee pay.

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Payroll internal controls

Accounting Tools

What are Payroll Internal Controls? Payroll internal controls are installed within a business to ensure that the personal information of employees is protected, as well as to ensure that payments made to employees are calculated correctly. These controls are most necessary when there is a high risk of failure within a payroll system.

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Forensic audit definition

Accounting Tools

Related Courses Forensic Analytics Fraud Examination Fraud Schemes How to Audit for Fraud What is a Forensic Audit? For example, a forensic auditor may search for evidence of fraud , which can then be used to prosecute a perpetrator. The key activities included in a forensic audit are noted below.

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Types of accounting

Accounting Tools

Related Courses Bookkeeping Guidebook CFO Guidebook New Controller Guidebook What are the Types of Accounting? There are several types of accounting that range from auditing to the preparation of tax returns. Accountants tend to specialize in one of these fields, which leads to the different career tracks noted below.