Generally, is the inherent risk level for the audit of the payroll and personnel set at low, moderate, or high? Explain

What will be an ideal response?

Generally inherent risk is set low since there is only one class of transactions for payroll. Also, internal control for payroll is normally highly structured and well controlled to manage cash disbursed, to minimize employee complaints and dissatisfaction, and to minimize payroll fraud. Payroll transactions are typically uniform and uncomplicated and payroll transactions are subject to audit by federal and state governments for tax withholdings.