We learned that a majority of the candidates for the AA Files exam are office workers or students who are occupied with a lot of things, and do not have plenty of time to prepare for the AA Files exam. Taking this into consideration, we have tried to improve the quality of our AA Files training materials for all our worth. Now, I am proud to tell you that our AA Files study dumps are definitely the best choice for those who have been yearning for success but without enough time to put into it. With all the above merits, the most outstanding one is 100% money back guarantee of your success. Our CPA experts deem it impossible to drop the AA Files exam, if you believe that you have learnt the contents of our AA Files study guide and have revised your learning through the AA Files practice tests. Do not miss the opportunity to buy the best AA Files preparation questions in the international market which will also help you to advance with the times.
Certified Public Accountant AA Many customers may be doubtful about our price.
Even if you have a week foundation, I believe that you will get the certification by using our AA - Audit & Insurance Files study materials. Our Reliable AA Practice Questions Sheet exam questions are compiled by experts and approved by authorized personnel and boost varied function so that you can learn Reliable AA Practice Questions Sheet test torrent conveniently and efficiently. We provide free download and tryout before your purchase and if you fail in the exam we will refund you in full immediately at one time.
Our AA Files practice exam will be your best assistant to get the AA Files certification. And our AA Files study materials are always considered the guarantee to pass the exam. You are the best and unique in the world.
CPA AA Files - Do not worry.
Our company provides the free download service of AA Files test torrent for all people. If you want to understand our AA Files exam prep, you can download the demo from our web page. You do not need to spend money; because our AA Files test questions provide you with the demo for free. You just need to download the demo of our AA Files exam prep according to our guiding; you will get the demo for free easily before you purchase our products. By using the demo, we believe that you will have a deeply understanding of our AA Files test torrent. We can make sure that you will like our products; because you will it can help you a lot.
However, if you choose the AA Files exam reference guide from our company, we are willing to help you solve your problem. There are a lot of IT experts in our company, and they are responsible to update the contents every day.
AA PDF DEMO:
QUESTION NO: 1
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: 2
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: 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
Internal auditors and management have become increasingly concerned about computer fraud.
Which of the following control procedures would be least important in preventing computer fraud?
A. Programme change control that requires a distinction between production programmes and test programmes.
B. Testing of new applications by users during the systems development process.
C. Segregation of duties between the applications programmer and the programme librarian function.
D. Segregation of duties between the programmer and systems analyst.
Answer: D
QUESTION NO: 5
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
The most notable feature of our Lpi 303-300 learning quiz is that they provide you with the most practical solutions to help you learn the exam points of effortlessly and easily, then mastering the core information of the certification course outline. CompTIA 220-1102 - By simulating enjoyable learning scenes and vivid explanations, users will have greater confidence in passing the qualifying exams. Oracle 1z1-819 - We will also protect your personal privacy sufficiently. Microsoft PL-400-KR - Of course, it is necessary to qualify for a qualifying exam, but more importantly, you will have more opportunities to get promoted in the workplace. When we choose the employment work, you will meet a bottleneck, how to let a company to choose you to be a part of him? We would say ability, so how does that show up? There seems to be only one quantifiable standard to help us get a more competitive job, which is to get the test SAP C_S4EWM_2023certification and obtain a qualification.
Updated: May 26, 2022