These three versions of our AA Questions practice engine can provide you study on all conditions. Come and buy our AA Questions exam guide! Nowadays, our learning methods become more and more convenient. If you are forced to pass exams and obtain certification by your manger, our AA Questions original questions will be a good choice for you. Our products can help you clear exams at first shot. Our AA Questions study materials are different from common study materials, which can motivate you to concentrate on study.
Certified Public Accountant AA We can help you to achieve your goals.
We can lead you the best and the fastest way to reach for the certification of AA - Audit & Insurance Questions exam dumps and achieve your desired higher salary by getting a more important position in the company. Omgzlook CPA AA Latest Test Testking exam training materials is the best training materials. If you're also have an IT dream.
We have considerate after sales services with genial staff. They are willing to solve the problems of our AA Questions training guide 24/7 all the time. If you have any question that you don't understand, just contat us and we will give you the most professional advice immediately.
CPA AA Questions - It is unmarched high as 98% to 100%.
Sometimes hesitating will lead to missing a lot of opportunities. If you think a lot of our AA Questions exam dumps PDF, you should not hesitate again. Too much hesitating will just waste a lot of time. Our AA Questions exam dumps PDF can help you prepare casually and pass exam easily. If you make the best use of your time and obtain a useful certification you may get a senior position ahead of others. Chance favors the prepared mind. Omgzlook provide the best AA Questions exam dumps PDF materials in this field which is helpful for you.
If you have any questions, you can contact our specialists. We will provide you with thoughtful service.
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
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: 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
There are Cisco 350-201 real questions available for our candidates with accurate answers and detailed explanations. Our SAP C-ARP2P-2404 learning materials are new but increasingly popular choices these days which incorporate the newest information and the most professional knowledge of the practice exam. Our SAP C-LIXEA-2404 exam dumps are required because people want to get succeed in IT field by clearing the certification exam. SAP C-S4PPM-2021 - If you have any questions about Audit & Insurance test torrent or there are any problems existing in the process of the refund you can contact us by mails or contact our online customer service personnel and we will reply and solve your doubts or questions promptly. The Microsoft AZ-305-KR practice download pdf offered by Omgzlook can give you some reference.
Updated: May 26, 2022