Our research and development team not only study what questions will come up in the AA Exam Objectives exam, but also design powerful study tools like exam simulation software.The content of our AA Exam Objectives practice materials is chosen so carefully that all the questions for the exam are contained. And our AA Exam Objectivesstudy materials have three formats which help you to read, test and study anytime, anywhere. This means with our products you can prepare for AA Exam Objectives exam efficiently. We believe that if you purchase AA Exam Objectives test guide from our company and take it seriously into consideration, you will gain a suitable study plan to help you to pass your exam in the shortest time. Subjects are required to enrich their learner profiles by regularly making plans and setting goals according to their own situation, monitoring and evaluating your study. Which kind of AA Exam Objectives certificate is most authorized, efficient and useful? We recommend you the AA Exam Objectives certificate because it can prove that you are competent in some area and boost outstanding abilities.
Certified Public Accountant AA Our website is a very safe and regular platform.
After you use our products, our AA - Audit & Insurance Exam Objectives study materials will provide you with a real test environment before the AA - Audit & Insurance Exam Objectives exam. But our AA Exam Sample test material has been recognized by multitude of customers, which possess of the top-class quality, can help you pass exam successfully. On the other hand, our AA Exam Sample latest dumps are designed by the most experienced experts, thus it can not only teach you knowledge, but also show you the method of learning in the most brief and efficient ways.
Adn the APP online version can be applied to all electronic devices. We have three different versions of our AA Exam Objectives exam questions which can cater to different needs of our customers. They are the versions: PDF, Software and APP online.
Our CPA AA Exam Objectives exam torrent carries no viruses.
If you are not sure whether our AA Exam Objectives exam braindumps are suitable for you, you can request to use our trial version. Of course, AA Exam Objectives learning materials produced several versions of the product to meet the requirements of different users. You can also ask to try more than one version and choose the one that suits you best. And we have three different versions Of our AA Exam Objectives study guide: the PDF, the Software and the APP online.
As long as you study our AA Exam Objectives training engine and followe it step by step, we believe you will achieve your dream easily. Every question from our AA Exam Objectives study materials is carefully elaborated and the content of our AA Exam Objectives exam questions involves the professional qualification certificate examination.
AA PDF DEMO:
QUESTION NO: 1
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: 2
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: 3
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: 4
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: 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
Microsoft MD-102 training materials are not only the domestic market, but also the international high-end market. Through all these years' experience, our Cisco 300-715 training materials are becoming more and more prefect. And you can free download the demos of the Scrum PSPO-II study guide to check it out. Microsoft DP-100 - All exams from different suppliers will be easy to handle. CIMA CIMAPRO19-CS3-1 - All in all, helping our candidates to pass the exam successfully is what we always looking for.
Updated: May 26, 2022