PAYROLL COMPLIANCE LEGISLATION
EXAM SCRIPT COMPLETE QUESTIONS AND
ANSWERS VERIFIED FULL SOLUTION
⩥ Payroll definition.
Answer: is the process of paying employees in exchange for the
services they perform.
⩥ 4 Possible Meanings of Payroll.
Answer: 1. The department that administers the payroll
2. The total number of people employed by an organization
3. The wages and salaries paid out in a year
4. A list of persons to be paid and the amount due to each
⩥ Legislation defintion.
Answer: refers to laws enacted by a legislative body. In Canada,
there are many legislative sources that payroll professionals
must comply with at two separate levels - the federal and the
provincial/territorial governments
⩥ Compliance definition.
,Answer: is the observance of official requirements
⩥ Legislative means having the powers to....
Answer: create laws
⩥ Legislative requirements are termed ________.
Answer: statutory (meaning they are enacted, created, or
regulated by a statute, a law enacted by the legislative branch of
a government)
⩥ Payroll professionals must therefore ensure the organization is
compliant with ____________.
Answer: all stakeholder requirements
⩥ è There are also compliance requirements for other non-
governmental stakeholders which would include: (2).
Answer: o Union collective agreements
o Group insurance policies
⩥ A Payroll Practitioner's responsibilities will differ depending
on: (4).
, Answer: - Size of the organization
- The number of jurisdictions in which they pay
- The reporting structure under which they work
- Whether there are other related departments in the organization
(such as HR, Finance, and Administration)
⩥ 3 levels in a payroll department within a large organization.
Answer: - payroll administrators
- payroll coordinators
- payroll managers
⩥ Payroll Practitioners should know the following to effectively
perform their duties: (3).
Answer: 1. Payroll compliance legislation (the Income Tax Act,
the Employment Insurance Act, the Canada Pension Plan Act,
Employment/Labour Standards, privacy legislation, Workers'
Compensation and provincial/territorial payroll-specific
legislation)
2. payroll processes (the remuneration and deduction
components of payroll)
EXAM SCRIPT COMPLETE QUESTIONS AND
ANSWERS VERIFIED FULL SOLUTION
⩥ Payroll definition.
Answer: is the process of paying employees in exchange for the
services they perform.
⩥ 4 Possible Meanings of Payroll.
Answer: 1. The department that administers the payroll
2. The total number of people employed by an organization
3. The wages and salaries paid out in a year
4. A list of persons to be paid and the amount due to each
⩥ Legislation defintion.
Answer: refers to laws enacted by a legislative body. In Canada,
there are many legislative sources that payroll professionals
must comply with at two separate levels - the federal and the
provincial/territorial governments
⩥ Compliance definition.
,Answer: is the observance of official requirements
⩥ Legislative means having the powers to....
Answer: create laws
⩥ Legislative requirements are termed ________.
Answer: statutory (meaning they are enacted, created, or
regulated by a statute, a law enacted by the legislative branch of
a government)
⩥ Payroll professionals must therefore ensure the organization is
compliant with ____________.
Answer: all stakeholder requirements
⩥ è There are also compliance requirements for other non-
governmental stakeholders which would include: (2).
Answer: o Union collective agreements
o Group insurance policies
⩥ A Payroll Practitioner's responsibilities will differ depending
on: (4).
, Answer: - Size of the organization
- The number of jurisdictions in which they pay
- The reporting structure under which they work
- Whether there are other related departments in the organization
(such as HR, Finance, and Administration)
⩥ 3 levels in a payroll department within a large organization.
Answer: - payroll administrators
- payroll coordinators
- payroll managers
⩥ Payroll Practitioners should know the following to effectively
perform their duties: (3).
Answer: 1. Payroll compliance legislation (the Income Tax Act,
the Employment Insurance Act, the Canada Pension Plan Act,
Employment/Labour Standards, privacy legislation, Workers'
Compensation and provincial/territorial payroll-specific
legislation)
2. payroll processes (the remuneration and deduction
components of payroll)
