PAYROLL FUNDAMENTALS ADVANCED
PREPARATION SHEET 2026 FULL
SOLUTION SET
● Why is payroll important? Answer: Payroll mistakes break trust faster
than almost any other HR issue.
● What are the three payroll buckets? Answer: 1. Employees 2.
Government (Statutory Deductions) 3. Employer
● What happens if payroll statutory deductions are not remitted?
Answer: Failure to remit leads to penalties.
● What are internal controls in payroll? Answer: Policies and procedures
to prevent errors, detect problems, protect assets, and ensure compliance.
● What is the purpose of segregation of duties in payroll? Answer: No
single person should control all parts of the payroll process to prevent
fraud and errors.
● What are authorization controls in payroll? Answer: Authorization is
how HR protects both employees and the organization.
PREPARATION SHEET 2026 FULL
SOLUTION SET
● Why is payroll important? Answer: Payroll mistakes break trust faster
than almost any other HR issue.
● What are the three payroll buckets? Answer: 1. Employees 2.
Government (Statutory Deductions) 3. Employer
● What happens if payroll statutory deductions are not remitted?
Answer: Failure to remit leads to penalties.
● What are internal controls in payroll? Answer: Policies and procedures
to prevent errors, detect problems, protect assets, and ensure compliance.
● What is the purpose of segregation of duties in payroll? Answer: No
single person should control all parts of the payroll process to prevent
fraud and errors.
● What are authorization controls in payroll? Answer: Authorization is
how HR protects both employees and the organization.
