The efficient management of the payroll function is crucial for any business with multiple employees. It is an area that requires attention to detail and careful observation of the regulatory environment. The integration of the payroll function with both the Finance and Human Resource Departments, further contributes to the operational management of a successful organisation.
This programme will offer a comprehensive understanding of the principles of payroll management and effective controls with a strong emphasis on the practical application in the working environment. Whether participants are seeking to manage these functions within their organisation or to diversify their skillset for career progression, this programme will provide the skills and knowledge needed to perform the vital function of payroll management and the effective implementation of controls.
Participants will benefit from the programme by formalising and updating their skills and learning the most up-to-date processes and best practices involved in the payroll function.
Participants will develop the following competencies:
- Understanding the payroll regulatory and compliance environment
- Confidence in managing the payroll department
- Skills to identify risk and implement controls
- Ability to integrate the payroll division with the HR and Finance Department
By the end of the programme, participants will have attained knowledge and skills on:
- How to effectively run a compliant payroll office
- Practical payroll implementation
- How to generate information and reports for internal and external use
- How to plan, organize, implement and monitor work within the payroll environment
- Integration of payroll into the HR and finance departments
- Mitigating risk and implementation of controls
- Performance of internal and external payroll audits
- How to Effectively Run the Payroll Department / Office
- Integration with Company Policies
- Responsibility of the Payroll Administrator
- Internal Payroll Audit
Practical Payroll Implementation
- The Key Steps Involved in Payroll Activities.
- Creating Cost Centres, Pay Points and Job Codes
- Maintaining Employee Data
- Processing Leave
- Setting up Payslips and Ensuring Regulatory Compliance
- Capturing Overtime and Additional Payment Information
- Making Amendments and Accounting for Specific Transactions
- Updating to New Pay Period and Month-End Procedures
- Linking Payroll with Company Finance Department
- Recording of Payroll Transactions in the Accounting Records
- Application of Payroll Accruals
- Common Payroll Measurements and how they are used
- Contents of the various payroll reports and how to use them
- How to utilise payroll reports for problem solving
- Payroll and external audit procedures
Effective Payroll Controls
- Protection of personal information
- What are internal controls?
- Identifying risks in the payroll cycle
- Implementation of payroll controls
- Evaluating payroll controls
- Outsourcing arrangements and responsibilities
- Common mistakes and how to avoid them
The programme is designed to illustrate key terms and concepts as well as to provide ample opportunity for discussion and practical examples, including mini cases. The course will be delivered through a presentation of the vital theoretical areas and a strong practical framework with real examples drawn from actual companies, both domestic and international.
This programme may be approved for up to 5 CPD units in Accounting Standards. Eligibility criteria and CPD Units are verified directly by your association, regulator or other bodies which you hold membership.
Professionals requiring CPD units to meet the education requirements for an occupational licence renewal, and/or for maintaining other professional memberships/certifications which accept CPD in Accounting Standards, are advised to consider training subjects in categories that indicate CPD training in Accounting Standards.
Who Should Attend
The programme is ideal for:
- Payroll Managers
- Payroll Supervisors and Assistants
- Accounts Managers and Assistants
- Accounting staff dealing with or supervising the payroll function
- Personnel Officers and Staff
- HR Managers and Officers