Our AA Objectives test engine allows you to study anytime and anywhere. In addition, you can set the time for each test practice of AA Objectives simulate test. The intelligence and customizable AA Objectives training material will help you get the AA Objectives certification successfully. We can assure you the proficiency of our AA Objectives exam prep. So this is a definitive choice, it means our AA Objectives practice quiz will help you reap the fruit of success. We not only provide you valid AA Objectives exam answers for your well preparation, but also bring guaranteed success results to you.
So the AA Objectives exam is a great beginning.
As long as you follow with our AA - Audit & Insurance Objectives study guide, you are doomed to achieve your success. Besides, we guarantee that the AA Exam Testking exam questions of all our users can be answered by professional personal in the shortest time with our AA Exam Testking study dumps. One more to mention, we can help you make full use of your sporadic time to absorb knowledge and information.
Every addition or subtraction of AA Objectives exam questions in the exam syllabus is updated in our braindumps instantly. Practice on real AA Objectives exam questions and we have provided their answers too for your convenience. If you put just a bit of extra effort, you can score the highest possible score in the real AA Objectives exam because our AA Objectives exam preparation dumps are designed for the best results.
CPA AA Objectives - It is your right time to make your mark.
Now, let us show you why our AA Objectives exam questions are absolutely your good option. First of all, in accordance to the fast-pace changes of bank market, we follow the trend and provide the latest version of AA Objectives study materials to make sure you learn more knowledge. Secondly, since our AA Objectives training quiz appeared on the market, seldom do we have the cases of customer information disclosure. We really do a great job in this career!
To prevent you from promiscuous state, we arranged our AA Objectives learning materials with clear parts of knowledge. Besides, without prolonged reparation you can pass the AA Objectives exam within a week long.
AA PDF DEMO:
QUESTION NO: 1
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: 2
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: 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
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
QUESTION NO: 5
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
The questions of our SAP C-TS462-2022-KR guide questions are related to the latest and basic knowledge. Besides, we understand you may encounter many problems such as payment or downloading California Department of Insurance CA-Life-Accident-and-Health practice materials and so on, contact with us, we will be there. The accomplished APMG-International AgilePM-Practitioner guide exam is available in the different countries around the world and being testified over the customers around the different countries. IAPP CIPP-C - Our software is equipped with many new functions, such as timed and simulated test functions. MuleSoft MCD-Level-2 - Our Audit & Insurance test torrent boost 99% passing rate and high hit rate so you can have a high probability to pass the exam.
Updated: May 26, 2022