Final answer:
Auditors typically spend less time auditing the payroll and personnel cycle due to its lower risk and the implementation of automated systems.
Step-by-step explanation:
Despite the large dollar amounts involved in the payroll and personnel cycle, auditors typically spend less time auditing this cycle than others.
There are a few reasons for this. First, the payroll and personnel cycle is often considered to be less risky than other cycles, such as the revenue or expenditure cycle. This is because the transactions in the payroll and personnel cycle are generally straightforward and well-documented.
Additionally, many companies have implemented automated systems for payroll and personnel, which can help reduce the risk of errors and fraudulent activity. These systems often have built-in controls and checks that can be easily audited.