The free demos of our AA Book Free study materials show our self-confidence and actual strength about study materials in our company. Besides, our company's website purchase process holds security guarantee, so you needn’t be anxious about download and install our AA Book Free exam questions. With our company employees sending the link to customers, we ensure the safety of our AA Book Free guide braindumps that have no virus. Every day there are many different new things turning up. So a wise and diligent person should absorb more knowledge when they are still young. Considering all customers’ sincere requirements, AA Book Free test question persist in the principle of “Quality First and Clients Supreme” all along and promise to our candidates with plenty of high-quality products, considerate after-sale services as well as progressive management ideas.
Certified Public Accountant AA Our company has also being Customer First.
Besides, our AA - Audit & Insurance Book Free exam questions will help you pass the exam and get the certification for sure. Wrong topic tend to be complex and no regularity, and the New AA Exam Test torrent prep can help the users to form a good logical structure of the wrong question, this database to each user in the simulation in the practice of all kinds of wrong topic all induction and collation, and the Audit & Insurance study question then to the next step in-depth analysis of the wrong topic, allowing users in which exist in the knowledge module, tell users of our New AA Exam Test exam question how to make up for their own knowledge loophole, summarizes the method to deal with such questions for, to prevent such mistakes from happening again.
Omgzlook 100% guarantee you to pass CPA certification AA Book Free exam. Our Omgzlook have a lot of IT professionals and the exam practice questions and answers we provide have been certified by many IT elites. Besides, the exam practice questions and answers have wide coverage of the content of the examination and the correct rate is up to 100%.
At present, CPA CPA AA Book Free exam is very popular.
Our AA Book Free study braindumps are so popular in the market and among the candidates that is because that not only our AA Book Free learning guide has high quality, but also our AA Book Free practice quiz is priced reasonably, so we do not overcharge you at all. Meanwhile, our exam materials are demonstrably high effective to help you get the essence of the knowledge which was convoluted. As long as you study with our AA Book Free exam questions for 20 to 30 hours, you will pass the exam for sure.
As long as you master these questions and answers, you will sail through the exam you want to attend. Whatever exam you choose to take, Omgzlook training dumps will be very helpful to you.
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
We want to provide our customers with different versions of CIW 1D0-622 test guides to suit their needs in order to learn more efficiently. IBM C1000-180 - Working in the IT industry, don't you feel pressure? Educational level is not representative of your strength. And you will be amazed to find that our API API-510 exam questions are exactly the same ones in the real exam. Huawei H11-851_V4.0 - Omgzlook pdf real questions and answers can prevent you from wasting lots of time and efforts on preparing for the exam and can help you sail through you exam with ease and high efficiency. Microsoft SC-400 - The most important part is that all contents were being sifted with diligent attention.
Updated: May 26, 2022