In your company, the payroll process is as follows:■ Employees return their time cards to...

In your company, the payroll process is as follows:

■ Employees return their time cards to the supervisor.

■ At the end of the moth, supervisors send the time cards to the payroll department.

■ The payroll department calculates employees’ pay, prints paychecks, and sends checks to the supervisors.

■ Supervisors distribute payroll checks to employees.

■ According to the company regulations, supervisors must return unclaimed checks to the payroll department.

Your boss has asked you to evaluate the payroll process and find the possible fraudulent acts loopholes. In your report to your boss, include what type of application controls are violated. How this possible fraudulent act detected, and how can it be prevented?

What are IT controls?