Automated Payroll Compliance Assurance: Linking Withholding Algorithms to Financial Statement Reliability

• Author(s): Akindamola Samuel Akinola; Olaolu Samuel Adesanya; Chizoba Michael Okafor; Blessing Olajumoke Farounbi
• Paper ID: 1711009
• Page: 341-357
• Published Date: 31-03-2019
• Published In: Iconic Research And Engineering Journals
• Publisher: IRE Journals
• e-ISSN: 2456-8880
• Volume/Issue: Volume 2 Issue 9 March-2019

Abstract

Payroll systems are at the core of organizational operations, ensuring accurate employee compensation, adherence to tax obligations, and compliance with statutory regulations. However, manual and semi-automated processes often introduce errors in withholding, leading to compliance failures, financial misstatements, and reputational risks. This paper explores the development of an automated payroll compliance assurance model, linking withholding algorithms directly to financial statement reliability. Drawing exclusively from secondary literature, the study synthesizes research on payroll automation, compliance analytics, algorithmic governance, and audit assurance to propose a conceptual framework for aligning payroll processes with enterprise-wide financial integrity. The framework suggests that algorithmically assured payroll compliance enhances both internal control efficiency and external reporting accuracy, thereby mitigating risks associated with regulatory penalties and shareholder mistrust.

Keywords

Payroll Automation, Compliance Assurance, Withholding Algorithms, Financial Reporting, Audit Reliability, Internal Controls

Citations

IRE Journals:
Akindamola Samuel Akinola, Olaolu Samuel Adesanya, Chizoba Michael Okafor, Blessing Olajumoke Farounbi "Automated Payroll Compliance Assurance: Linking Withholding Algorithms to Financial Statement Reliability" Iconic Research And Engineering Journals Volume 2 Issue 9 2019 Page 341-357

IEEE:
Akindamola Samuel Akinola, Olaolu Samuel Adesanya, Chizoba Michael Okafor, Blessing Olajumoke Farounbi "Automated Payroll Compliance Assurance: Linking Withholding Algorithms to Financial Statement Reliability" Iconic Research And Engineering Journals, 2(9)