Internal auditors are beginning to recognize that there are major organizational risks and costs associated with administering compensation and benefits programs, and are adjusting their efforts according. Inappropriate management of salary and benefits costs, which often make up a large portion of the overall budget, can have a significant financial impact on an organization. Additionally, the numerous laws governing compensation and benefits administration make compliance a key concern.
Auditing Compensation and Benefits Programs provides detailed information on auditing these key human resources (HR) functional areas. The book includes:
- discussion of best practices and risks associated with compensation programs;
- sample compensation and benefits audit program;
- sample risk checklist;
- risk impact and control matrix.
This handbook, which closely follows the Society for Human Resource Management (SHRM) Total Rewards Learning System regarding general compensation and benefits administration, can help those responsible for administering and auditing these programs ensure that their organizations are implementing best practices and addressing all appropriate risks.