Keep making progress is a very good thing for all people. If you try your best to improve yourself continuously, you will that you will harvest a lot, including money, happiness and a good job and so on. The AA Materials preparation exam from our company will help you keep making progress. Do not worry, in order to help you solve your problem and let you have a good understanding of our AA Materials study practice dump, the experts and professors from our company have designed the trial version for all people. You can have a try of using the AA Materials prep guide from our company before you purchase it. With the help of our AA Materials training guide, your dream won’t be delayed anymore.
Certified Public Accountant AA Our research materials have many advantages.
So if you get any questions of our AA - Audit & Insurance Materials learning guide, please get us informed. You really can't find a more cost-effective product than Updated AA CBT learning quiz! Our company wants more people to be able to use our products.
Passing the AA Materials exam has never been so efficient or easy when getting help from our AA Materials training materials. This way is not only financially accessible, but time-saving and comprehensive to deal with the important questions emerging in the real exam. All exams from different suppliers will be easy to handle.
CPA AA Materials - The next thing you have to do is stick with it.
With the high employment pressure, more and more people want to ease the employment tension and get a better job. The best way for them to solve the problem is to get the AA Materials certification. Because the certification is the main symbol of their working ability, if they can own the AA Materials certification, they will gain a competitive advantage when they are looking for a job. An increasing number of people have become aware of that it is very important for us to gain the AA Materials exam questions in a short time. Because all of them have realized that it is indispensable to our daily life and work.
simulation tests of our AA Materials learning materials have the functions of timing and mocking exams, which will allow you to adapt to the exam environment in advance and it will be of great benefit for subsequent exams. After you complete the learning task, the system of our AA Materials test prep will generate statistical reports based on your performance so that you can identify your weaknesses and conduct targeted training and develop your own learning plan.
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
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: 3
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: 4
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: 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
And the Software version of our SAP C_S4FCF_2023 study materials have the advantage of simulating the real exam, so that the candidates have more experience of the practicing the real exam questions. Our AACE International CCP actual questions are updated in a high speed. Juniper JN0-252 - Don't doubt about it. Pegasystems PEGACPBA88V1 - Hence one can see that the Audit & Insurance learn tool compiled by our company are definitely the best choice for you. Imagine, if you're using a ISQI CTFL-PT_D practice materials, always appear this or that grammar, spelling errors, such as this will not only greatly affect your mood, but also restricted your learning efficiency.
Updated: May 26, 2022