PAYROLL COMPLIANCE LEGISLATION
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Actual Questions and Complete
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• Payroll definition . Answer: is the process of paying employees in
exchange for the services they perform.
• 4 Possible Meanings of Payroll . Answer: 1. 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 . Answer: refers 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 . Answer: is the observance of official
requirements
• Legislative means having the powers to... . Answer: create laws
,• Legislative requirements are termed ________ . Answer: statutory
(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 ____________ . Answer: all stakeholder requirements
• è There are also compliance requirements for other non-governmental
stakeholders which would include: (2) . Answer: o Union collective
agreements
o Group insurance policies
• A Payroll Practitioner's responsibilities will differ depending on: (4) .
Answer: - 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 . Answer: -
payroll administrators
- payroll coordinators
- payroll managers
• Payroll Practitioners should know the following to effectively perform
their duties: (3) . Answer: 1. 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)
• Payroll Practitioner knowledge consists of: (3) . Answer: - Technical
skills
- Personal & professional skills
- Behavioural& ethical standards
• The National Payroll Institute's Code of Professional Conduct .
Answer: · 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
• · Payroll management stakeholders are: (3) . Answer: - Federal and
Provincial/territorial governments
- Internal stakeholders
- External stakeholders
Exam | Ultimate Exam Prep with
Actual Questions and Complete
Verified Answers | Graded A+
• Payroll definition . Answer: is the process of paying employees in
exchange for the services they perform.
• 4 Possible Meanings of Payroll . Answer: 1. 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 . Answer: refers 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 . Answer: is the observance of official
requirements
• Legislative means having the powers to... . Answer: create laws
,• Legislative requirements are termed ________ . Answer: statutory
(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 ____________ . Answer: all stakeholder requirements
• è There are also compliance requirements for other non-governmental
stakeholders which would include: (2) . Answer: o Union collective
agreements
o Group insurance policies
• A Payroll Practitioner's responsibilities will differ depending on: (4) .
Answer: - 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 . Answer: -
payroll administrators
- payroll coordinators
- payroll managers
• Payroll Practitioners should know the following to effectively perform
their duties: (3) . Answer: 1. 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)
• Payroll Practitioner knowledge consists of: (3) . Answer: - Technical
skills
- Personal & professional skills
- Behavioural& ethical standards
• The National Payroll Institute's Code of Professional Conduct .
Answer: · 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
• · Payroll management stakeholders are: (3) . Answer: - Federal and
Provincial/territorial governments
- Internal stakeholders
- External stakeholders
