After decades of hard work, our products are currently in a leading position in the same kind of education market, our AA Book learning materials, with their excellent quality and constantly improved operating system, In many areas won the unanimous endorsement of many international customers. Advanced operating systems enable users to quickly log in and use, in constant practice and theoretical research, our AA Book learning materials have come up with more efficient operating system to meet user needs, so we can assure users here , after user payment , users can perform a review of the AA Book exam in real time , because our advanced operating system will immediately send users AA Book learning material to the email address where they are paying , this greatly facilitates the user, lets the user be able to save more study time. Our AA Book exam questions are famous for its high-efficiency and high pass rate as 98% to 100%. Buy our AA Book study guide, and you will pass the exam easily. So our AA Book study questions are their best choice.
Certified Public Accountant AA PDF version is easy for read and print out.
Omgzlook is a reliable site offering the AA - Audit & Insurance Book valid study material supported by 100% pass rate and full money back guarantee. Once you have well prepared with our Valid Test AA Topics Pdf dumps collection, you will go through the formal test without any difficulty. To help people pass exam easily, we bring you the latest Valid Test AA Topics Pdf exam prep for the actual test which enable you get high passing score easily in test.
Our website aimed to help you to get through your certification test easier with the help of our valid AA Book vce braindumps. You just need to remember the answers when you practice AA Book real questions because all materials are tested by our experts and professionals. Our AA Book study guide will be your first choice of exam materials as you just need to spend one or days to grasp the knowledge points of AA Book practice exam.
CPA AA Book - You will not need to struggle with the exam.
Regarding the process of globalization, every fighter who seeks a better life needs to keep pace with its tendency to meet challenges. AA Book certification is a stepping stone for you to stand out from the crowd. Nowadays, having knowledge of the AA Book study braindumps become widespread, if you grasp solid technological knowledge, you are sure to get a well-paid job and be promoted in a short time. According to our survey, those who have passed the exam with our AA Book test guide convincingly demonstrate their abilities of high quality, raise their professional profile, expand their network and impress prospective employers.
Most of the materials on the market do not have a free trial function. Even some of the physical books are sealed up and cannot be read before purchase.
AA PDF DEMO:
QUESTION NO: 1
Internal auditors must exercise due care if they are to meet their responsibilities for fraud detection. Thus, the existence of certain conditions should raise auditor's professional scepticism concerning possible fraud. Which of the following is most likely to be considered as an indication of possible fraud?
A. A new management team installed as the result of a takeover.
B. Rapid turnover of financial executives.
C. Rapid expansion into new markets.
D. Tax authorities' audit of tax returns.
Answer: B
QUESTION NO: 2
The internal auditing department has been assigned to perform an audit of a division. Based on background review, the auditor knows the following about management policies:
Company policy is to rapidly promote divisional managers who show significant success. Thus, successful managers rarely stay at a division for more than three years.
A significant portion of division management's compensation comes in the form of bonuses based on the division's profitability.
The division was identified by senior management as a turnaround opportunity. The division is growing, but is not scheduled for a full audit by the external auditors this year. The division has been growing about 7% per year for the past three years and uses a standard cost system.
During the preliminary review, the auditor notes the following changes in financial data compared to the prior year:
Sales have increased by 10%.
Cost of goods sold has increased by 2%.
Inventory has increased by 15%.
Divisional net income has increased by 8%.
Assume the auditor found that there was a plan to overstate inventory and therefore increase reported profits for the division. If reported correctly, the division would not have shown an increase in net income. The auditor has substantial evidence that the divisional manager was aware of and approved the plan to overstate inventory. There is also some evidence that the manager may have been responsible for the implementation of the plan.
The appropriate audit action would be to
A. Continue to conduct interviews with subordinates until a clear-cut case is made and then report the case to the audit committee.
B. Inform management and the audit committee of the findings and discuss proper follow-up action and/or further investigation with them.
C. Inform the divisional manager of the audit suspicions and obtain the manager's explanation of the findings before pursuing the matter further.
D. Document the case thoroughly and report the suspicions to the external auditor for further review and external reporting.
Answer: B
QUESTION NO: 3
An auditor performs an analytical review by comparing the gross margins of various divisional operations with those of other divisions and with the individual division's performance in previous years. The auditor notes a significant increase in the gross margin at one division. The auditor does the preliminary investigation and notes that there were no changes in products, production methods, or divisional management during the year.
Based on the above information, the most likely cause of the increase in gross margin would be
A. An increase in the number of competitors selling similar products.
B. A decrease in the number of suppliers of the material used in manufacturing the product.
C. An overstatement of year-end inventory.
D. An understatement of year-end accounts receivable.
Answer: C
QUESTION NO: 4
John has been given the following draft figures for Kulran Ltd for the year ended 30 June 2011 to analyse. Materiality has been set at $35,000 and the finance director has told John in a planning meeting that there have been few changes in the year. Budgets were set at 2010 levels and there have been no major movements in non-current assets.
20112010
$$
Revenue3,497,2843,487,286
Cost of sales1,867,2942,008,967
Salaries467,900420,975
Which of the following is normally designed to detect possible material monetary errors in the above figures of financial statements?
A. Test of control
B. Walk-through test
C. Analytical procedure
D. Observation of a procedure
Answer: C
QUESTION NO: 5
When questions arise on the appropriateness of the going concern assumption made by management and the existence of material misstatements which was not adequately disclosed in the financial statements would lead to auditor's-
A. Qualified opinion
B. Unmodified opinion
C. Disclaimer of opinion
D. Unmodified opinion (but have to include an emphasis of matter paragraph in the auditor's report)
Answer: A
Snowflake COF-C02 - More detailed information is under below. And at the same time, you don't have to pay much time on the preparation for our IBM C1000-181 learning guide is high-efficient. You can see that there are only benefits for you to buy our EMC D-PEMX-DY-23 learning guide, so why not just have a try right now? We are willing to recommend you to try the IBM C1000-176 learning guide from our company. And we can assure you that you will get the latest version of our EMC D-PE-FN-23 training materials for free from our company in the whole year after payment on EMC D-PE-FN-23 practice quiz.
Updated: May 26, 2022