To pass the certification exam, you need to select right AA Questions study guide and grasp the overall knowledge points of the real exam. The test questions from our AA Questions dumps collection cover almost content of the exam requirement and the real exam. Trying to download the free demo in our website and check the accuracy of AA Questions test answers and questions. Are you worried about how to passs the terrible CPA AA Questions exam? Do not worry, With Omgzlook's CPA AA Questions exam training materials in hand, any IT certification exam will become very easy. Omgzlook's CPA AA Questions exam training materials is a pioneer in the CPA AA Questions exam certification preparation. You can print our AA Questions practice questions out and share the materials with your classmates and friends.
Certified Public Accountant AA At first, it can be only used on PC.
The Audit & Insurance prepare torrent is absorbed in the advantages of the traditional learning platform and realize their shortcomings, so as to develop the AA - Audit & Insurance Questions test material more suitable for users of various cultural levels. Our AA Free Learning Cram free dumps demo will provide you some basic information for the accuracy of our exam materials. All questions and answers in our AA Free Learning Cram real dumps are tested by our certified trainers with rich experience and one or two days is enough for you practicing valid AA Free Learning Cram exam pdf.
We will send our AA Questions exam guide within 10 minutes after your payment. You can check your mailbox ten minutes after payment to see if our AA Questions exam guide are in. What we attach importance to in the transaction of latest AA Questions quiz prep is for your consideration about high quality and efficient products and time-saving service.
CPA AA Questions - You’ve heard it right.
Having been handling in this line for more than ten years, we can assure you that our AA Questions study questions are of best quality and reasonable prices for your information. We offer free demos of the latest version covering all details of our AA Questions exam braindumps available at present as representatives. So AA Questions practice materials come within the scope of our business activities. Choose our AA Questions learning guide, you won't regret!
You can totally rely on us! We never concoct any praise but show our capacity by the efficiency and profession of our AA Questions practice materials.
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
Microsoft AZ-104 study engine is very attentive to provide a demo for all customers who concerned about our products, whose purpose is to allow customers to understand our product content before purchase. The latest Oracle 1z0-1047-24 quiz torrent can directly lead you to the success of your career. If you have any questions after you buy our Splunk SPLK-2003 study guide, you can always get thoughtful support and help by email or online inquiry. The PDF version of our Amazon SAA-C03 test braindumps provide demo for customers; you will have the right to download the demo for free if you choose to use the PDF version. HP HPE7-M03 - Professional ability is very important both for the students and for the in-service staff because it proves their practical ability in the area they major in.
Updated: May 26, 2022