Are you worried about how to passs the terrible CPA AA Materials exam? Do not worry, With Omgzlook's CPA AA Materials exam training materials in hand, any IT certification exam will become very easy. Omgzlook's CPA AA Materials exam training materials is a pioneer in the CPA AA Materials exam certification preparation. Our website offer you the latest AA Materials dumps torrent in pdf version and test engine version, which selected according to your study habit. You can print our AA Materials practice questions out and share the materials with your classmates and friends. With it, you will get a different life.
Certified Public Accountant AA You can copy to your mobile, Ipad or others.
Different from other similar education platforms, the AA - Audit & Insurance Materials quiz guide will allocate materials for multi-plate distribution, rather than random accumulation without classification. Our AA Valid Exam Simulator dumps torrent contains everything you want to solve the challenge of real exam. Our AA Valid Exam Simulator free dumps demo will provide you some basic information for the accuracy of our exam materials.
What we attach importance to in the transaction of latest AA Materials quiz prep is for your consideration about high quality and efficient products and time-saving service. We treasure time as all customers do. Therefore, fast delivery is another highlight of our latest AA Materials quiz prep.
But our CPA AA Materials exam questions have made it.
By browsing this website, all there versions of AA Materials training materials can be chosen according to your taste or preference. In addition, we provide free updates to users for one year long after your purchase. If the user finds anything unclear in the AA Materials exam questions exam, we will send email to fix it, and our team will answer all of your questions related to the AA Materials actual exam. So as long as you have any question, just contact us!
Every page is carefully arranged by our experts with clear layout and helpful knowledge to remember. Our AA Materials exam questions just focus on what is important and help you achieve your goal.
AA PDF DEMO:
QUESTION NO: 1
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: 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
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: 4
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: 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
With excellent quality at attractive price, our SAP C_S4FCF_2023 exam questions get high demand of orders in this fierce market. So our SAP C-THR81-2405practice materials have great brand awareness in the market. The promotion or acceptance of our Cisco 300-715 exam questions will be easy. Huawei H13-527_V5.0 - The software boosts varied self-learning and self-assessment functions to check the results of the learning. HP HPE2-N71 - The gold content of the materials is very high, and the updating speed is fast.
Updated: May 26, 2022