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compliance
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86
docs/build/html/compliance.html
vendored
86
docs/build/html/compliance.html
vendored
@@ -182,6 +182,86 @@ circumstances</p>
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includes accounting for payroll expenses and accruals to internal financial systems
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and federal and provincial/territorial year-end reporting.</p>
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</section>
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<section id="technical-skills">
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<h2><span class="section-number">4.3. </span>Technical Skills<a class="headerlink" href="#technical-skills" title="Link to this heading">¶</a></h2>
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<p>The technical skills required by payroll professionals include proficiency in computer
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programs such as payroll software and financial systems, spreadsheets, databases and word
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processing.</p>
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<p>Organizations often change their payroll and business systems to meet new technology
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requirements and corporate reporting needs. It is important for payroll personnel to have the
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ability to be adaptable to changing systems. As a payroll practitioner, you must be prepared
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and willing to embrace continuous learning.</p>
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</section>
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<section id="personal-and-professional-skills">
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<h2><span class="section-number">4.4. </span>Personal and Professional Skills<a class="headerlink" href="#personal-and-professional-skills" title="Link to this heading">¶</a></h2>
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<p>The following personal and professional skills will assist payroll practitioners in dealing with
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the various stakeholders involved in the payroll process:</p>
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<blockquote>
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<div><ul class="simple">
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<li><p>written communication skills, such as preparing employee emails and memos,</p></li>
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</ul>
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</div></blockquote>
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<p>management reports, policies and procedures and correspondence with various levels
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of government</p>
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<blockquote>
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<div><ul class="simple">
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<li><p>verbal communication skills, to be able to respond to internal and external</p></li>
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</ul>
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</div></blockquote>
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<dl class="simple">
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<dt>stakeholder inquiries</dt><dd><ul class="simple">
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<li><p>the ability to read, understand and interpret legal terminology found in documents</p></li>
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</ul>
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</dd>
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<dt>such as collective agreements, benefit contracts and government regulations</dt><dd><ul class="simple">
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<li><p>excellent mathematical skills to perform various calculations</p></li>
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<li><p>problem solving, decision-making, time management and organizational skills</p></li>
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</ul>
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</dd>
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</dl>
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</section>
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<section id="behavioural-and-ethical-standards">
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<h2><span class="section-number">4.5. </span>Behavioural and Ethical Standards<a class="headerlink" href="#behavioural-and-ethical-standards" title="Link to this heading">¶</a></h2>
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<p>Behaviour and ethics are two areas that build on the skills that an effective payroll practitioner
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must have. Effective payroll professionals should be:</p>
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<blockquote>
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<div><ul class="simple">
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<li><p>trustworthy, as the potential for fraud is ever present</p></li>
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<li><p>conscientious, with a keen attention to detail</p></li>
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<li><p>discreet, due to the confidential nature of information being handled</p></li>
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<li><p>tactful in dealing with employees who can be very sensitive when discussing their</p></li>
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</ul>
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</div></blockquote>
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<dl class="simple">
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<dt>financial issues</dt><dd><ul class="simple">
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<li><p>perceptive, able to understand all sides of an issue</p></li>
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<li><p>able to work under the pressures of absolute deadlines</p></li>
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<li><p>able to use common sense in order to recognize problems quickly and apply sound</p></li>
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</ul>
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</dd>
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<dt>solutions</dt><dd><ul class="simple">
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<li><p>able to remain objective and maintain a factual perspective when dealing with</p></li>
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</ul>
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</dd>
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</dl>
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<p>questions and inquiries</p>
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<section id="summary">
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<h3><span class="section-number">4.5.1. </span>Summary<a class="headerlink" href="#summary" title="Link to this heading">¶</a></h3>
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<p>The primary objective of the payroll function in every organization is to ensure that employees are paid accurately
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and on time, in full compliance with legislative requirements, throughout the entire annual payroll cycle. This function is
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critical to maintaining employee satisfaction, legal integrity, and operational efficiency.</p>
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<p>Payroll itself is the process of compensating employees for the services they perform. It encompasses calculating wages,
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deducting taxes and benefits, and distributing payments. Ensuring accuracy in this process is essential to avoid financial
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discrepancies and maintain trust within the organization.</p>
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<p>Legislation refers to the laws enacted by a legislative body that govern payroll practices. These laws may include tax
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regulations, labor standards, and employment rights, all of which must be adhered to by the payroll department. Compliance,
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in this context, means observing and fulfilling these official requirements to avoid legal penalties and ensure ethical
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operations.</p>
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<p>A payroll practitioner’s knowledge base includes a thorough understanding of payroll compliance legislation, payroll
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processes, and payroll reporting. In addition to technical expertise, practitioners must also possess strong personal and
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professional skills to manage responsibilities effectively and adapt to evolving regulatory environments.</p>
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</section>
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</section>
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</section>
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@@ -202,6 +282,12 @@ and federal and provincial/territorial year-end reporting.</p>
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</ul>
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</li>
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<li><a class="reference internal" href="#content-knowledge">4.2. Content Knowledge</a></li>
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<li><a class="reference internal" href="#technical-skills">4.3. Technical Skills</a></li>
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<li><a class="reference internal" href="#personal-and-professional-skills">4.4. Personal and Professional Skills</a></li>
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<li><a class="reference internal" href="#behavioural-and-ethical-standards">4.5. Behavioural and Ethical Standards</a><ul>
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<li><a class="reference internal" href="#summary">4.5.1. Summary</a></li>
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</ul>
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</li>
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</ul>
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</li>
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</ul>
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