Provided that you lose your exam with our AA Exam Experience exam questions unfortunately, you can have full refund or switch other version for free. All the preoccupation based on your needs and all these explain our belief to help you have satisfactory and comfortable purchasing services on the AA Exam Experience study guide. We assume all the responsibilities our AA Exam Experience simulating practice may bring you foreseeable outcomes and you will not regret for believing in us assuredly. According to the needs of the candidate, they consider the issue from all angles, and manufacturing applicability exam training materials. This material is CPA AA Exam Experience exam training materials, which including questions and answers. Our AA Exam Experience study guide may not be as famous as other brands for the time being, but we can assure you that we won't lose out on quality.
Certified Public Accountant AA As long as the road is right, success is near.
We can make sure that all employees in our company have wide experience and advanced technologies in designing the AA - Audit & Insurance Exam Experience study dump. Using Reliable AA Test Question real questions will not only help you clear exam with less time and money but also bring you a bright future. We are looking forward to your join.
Our AA Exam Experience study materials can have such a high pass rate, and it is the result of step by step that all members uphold the concept of customer first. If you use a trial version of AA Exam Experience training prep, you can find that our study materials have such a high passing rate and so many users support it. After using the trial version, we believe that you will be willing to choose AA Exam Experience exam questions.
CPA AA Exam Experience - This certification gives us more opportunities.
If you are nervous on your AA Exam Experience exam for you always have the problem on the time-schedule or feeling lack of confidence on the condition that you go to the real exam room. Our Software version of AA Exam Experience study materials will be your best assistant. With the advantage of simulating the real exam environment, you can get a wonderful study experience with our AA Exam Experience exam prep as well as gain the best pass percentage.
Therefore, modern society is more and more pursuing efficient life, and our AA Exam Experience exam materials are the product of this era, which conforms to the development trend of the whole era. It seems that we have been in a state of study and examination since we can remember, and we have experienced countless tests, including the qualification examinations we now face.
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
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
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
IBM C1000-173 - Our online resources and events enable you to focus on learning just what you want on your timeframe. Microsoft SC-400 - If you make up your mind, choose us! When you purchase Oracle 1z0-1085-24 exam dumps from Omgzlook, you never fail Oracle 1z0-1085-24 exam ever again. SAP C_S4FCF_2023 - Of course, their service attitude is definitely worthy of your praise. Adobe AD0-E134 - Also, we offer you with 24/7 customer services for any inconvenience.
Updated: May 26, 2022