Auditing payroll process: A step-by-step guide
Payroll audits are essential for the smooth operation and long-term success of any business. They serve as a systematic review ensuring that payroll processes adhere to legal requirements, which helps in minimising costly errors. Without regular payroll audits, companies might face serious issues such as payroll fraud, legal penalties, and employee dissatisfaction. By conducting routine […]
Payroll risk management strategies for Sri Lankan companies
In the dynamic business landscape of Sri Lanka, effective payroll risk management is an imperative aspect for companies aiming to secure their compliance and bolster financial integrity. Payroll processes encompass various complex elements, making them susceptible to risks such as errors, fraud, and non-compliance with local labour laws. Errors in payroll can originate from misclassifications, […]
Payroll audit checklist template for Sri Lankan businesses
In the dynamic business environment of Sri Lanka, payroll audits have become an indispensable practice for companies striving to maintain seamless operations. Payroll errors can lead to significant discrepancies, impacting both employee satisfaction and regulatory compliance. This is where audits come into play, acting as a crucial measure to verify the accuracy of payroll data, […]
Payroll audit and risk management: The definitive guide
In the dynamic world of business, payroll audits stand as a crucial mechanism to ensure financial integrity and operational efficiency. A payroll audit is a comprehensive review of your company’s payroll system, which is vital for maintaining accurate records and ensuring compliance with ever-evolving labour laws. The role of payroll audits Payroll audits help in […]
