Need any help, please contact with us again! All time and energy you devoted to the AA Exam Topics preparation quiz is worthwhile. With passing rate up to 98 percent and above, our AA Exam Topics practice materials are highly recommended among exam candidates. In order to pass CPA certification AA Exam Topics exam disposably, you must have a good preparation and a complete knowledge structure. Omgzlook can provide you the resources to meet your need. Many people, especially the in-service staff, are busy in their jobs, learning, family lives and other important things and have little time and energy to learn and prepare the exam.
Certified Public Accountant AA But it doesn't matter.
Certified Public Accountant AA Exam Topics - Audit & Insurance So our exam training materials is simulated with the practical exam. To address this issue, our New Study AA Questions Ebook actual exam offers three different versions for users to choose from. The PC version is the closest to the real test environment, which is an excellent choice for windows - equipped computers.
In recent years, many people are interested in CPA certification exam. So, CPA AA Exam Topics test also gets more and more important. As the top-rated exam in IT industry, AA Exam Topics certification is one of the most important exams.
Now CPA CPA AA Exam Topics certification test is very popular.
No matter in the day or on the night, you can consult us the relevant information about our AA Exam Topics preparation exam through the way of chatting online or sending emails. I’m sure our 24-hour online service will not disappoint you as we offer our service 24/7 on our AA Exam Topics study materials. And we will give you the most considerate suggestions on our AA Exam Topics learning guide with all our sincere and warm heart.
So our IT technicians of Omgzlook take more efforts to study AA Exam Topics exam materials. All exam software from Omgzlook is the achievements of more IT elite.
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
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: 3
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: 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
Our company provides convenient service to the clients all around the world so that the clients all around the world can use our Google Cloud-Digital-Leader study materials efficiently. Our Omgzlook devote themselves for years to develop the IBM C1000-127 exam software to help more people who want to have a better development in IT field to pass IBM C1000-127 exam. If you buy the PECB Lead-Cybersecurity-Manager training files from our company, you will have the right to enjoy the perfect service. Our Axis Communications CTS training dumps cover nearly 85% real test materials so that if you master our dumps questions and answers you can clear exams successfully. You can rest assured to buy the EMC D-PVM-OE-23 exam dumps from our company.
Updated: May 26, 2022