Objective of the Payroll Function correct answersPay employees accurately and on time, in compliance with legislative requirements for a full annual payroll cycle
Payroll definition correct answersis the process of paying employees in exchange for the services they perform.
4 Possible Meaning...
Objective of the Payroll Function correct answersPay employees accurately and on time, in compliance
with legislative requirements for a full annual payroll cycle
Payroll definition correct answersis the process of paying employees in exchange for the services they
perform.
4 Possible Meanings of Payroll correct answers1. 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 correct answersrefers 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 correct answersis the observance of official requirements
Legislative means having the powers to... correct answerscreate laws
Legislative requirements are termed ________ correct answersstatutory (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 ____________ correct
answersall stakeholder requirements
è There are also compliance requirements for other non-governmental stakeholders which would
include: (2) correct answerso Union collective agreements
, o Group insurance policies
A Payroll Practitioner's responsibilities will differ depending on: (4) correct answers- 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 correct answers- payroll administrators
- payroll coordinators
- payroll managers
Payroll Practitioners should know the following to effectively perform their duties: (3) correct answers1.
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)
3. payroll reporting (calculating and remitting amounts due to government agencies, insurance
companies, unions and other third parties)
The National Payroll Institute's Code of Professional Conduct correct answers· Minimum standards of
professional behaviour
· Addresses issues around personal accountability and integrity
· Reflects the Institute's values of community, professionalism and authoritative knowledge
· Holds Institute and certification holders, members and students to a high ethical standard
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