The AA Learning Materials exam questions are divided into various groups and the candidate can solve these questions to test his skills and knowledge. The crucial thing when it comes to appearing a competitive exam like AA Learning Materials knowing your problem-solving skills. And to do that you are going to need help from a AA Learning Materials practice questions or braindumps. You do not need to look around for the latest CPA AA Learning Materials training materials, because you have to find the best CPA AA Learning Materials training materials. Rest assured that our questions and answers, you will be completely ready for the CPA AA Learning Materials certification exam. If you are a novice, begin from AA Learning Materials study guide and revise your learning with the help of testing engine.
Certified Public Accountant AA We have benefited a lot from those changes.
And pass the CPA AA - Audit & Insurance Learning Materials exam is not easy. In our software version of the AA Latest Study Guide Files exam dumps, the unique point is that you can take part in the practice test before the real AA Latest Study Guide Files exam. You never know what you can get till you try.
But God forced me to keep moving. CPA AA Learning Materials exam is a major challenge in my life, so I am desperately trying to learn. But it does not matter, because I purchased Omgzlook's CPA AA Learning Materials exam training materials.
CPA AA Learning Materials - Your life will be even more exciting.
With all the questons and answers of our AA Learning Materials study materials, your success is 100% guaranteed. Moreover, we have Demos as freebies. The free demos give you a prove-evident and educated guess about the content of our AA Learning Materials practice questions. As long as you make up your mind on this AA Learning Materials exam, you can realize their profession is unquestionable. And you will be surprised to find the high-quality of our AA Learning Materials exam braindumps.
In order to meet the different need from our customers, the experts and professors from our company designed three different versions of our AA Learning Materials exam questions for our customers to choose, including the PDF version, the online version and the software version. Though the content of these three versions is the same, the displays have their different advantages.
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
SAP P-SAPEA-2023 - According to your need, you can choose the most suitable version of our Audit & Insurance guide torrent for yourself. With our Microsoft AZ-204 exam Practice, you will feel much relax for the advantages of high-efficiency and accurate positioning on the content and formats according to the candidates’ interests and hobbies. Of course, a lot of problems such as soft test engine appeared some faults or abnormal stating run phenomenon of our Microsoft DP-600 exam question, these problems cannot be addressed by simple language, we will service a secure remote assistance for users and help users immediate effectively solve the existing problems of our Microsoft DP-600 torrent prep, thus greatly enhance the user experience, beneficial to protect the user's learning resources and use digital tools, let users in a safe and healthy environment to study Microsoft DP-600 exam question. Adobe AD0-E908 - We will promptly provide feedback to you and we sincerely help you to solve the problem. IBM C1000-173 - They can not only achieve this, but ingeniously help you remember more content at the same time.
Updated: May 26, 2022