As far as our AA Pass Guaranteed study guide is concerned, the PDF version brings you much convenience with regard to the following advantage. The PDF version of our AA Pass Guaranteed learning materials contain demo where a part of questions selected from the entire version of our AA Pass Guaranteed exam quiz is contained. In this way, you have a general understanding of our AA Pass Guaranteed actual prep exam, which must be beneficial for your choice of your suitable exam files. Omgzlook's products are developed by a lot of experienced IT specialists using their wealth of knowledge and experience to do research for IT certification exams. So if you participate in CPA certification AA Pass Guaranteed exam, please choose our Omgzlook's products, Omgzlook can not only provide you a wide coverage and good quality exam information to guarantee you to let you be ready to face this very professional exam but also help you pass CPA certification AA Pass Guaranteed exam to get the certification. All those merits prefigure good needs you may encounter in the near future.
Certified Public Accountant AA Or you can choose to free update your exam dumps.
Certified Public Accountant AA Pass Guaranteed - Audit & Insurance Being considered the most authentic brand in this career, our professional experts are making unremitting efforts to provide our customers the latest and valid {CertName} exam simulation. You will find some exam techniques about how to pass Latest AA Practice Questions Pdf exam from the exam materials and question-answer analysis provided by our Omgzlook. Besides, to make you be rest assured of our dumps, we provide Latest AA Practice Questions Pdf exam demo for you to free download.
But we can help all of these candidates on AA Pass Guaranteed study questions. Numerous grateful feedbacks form our loyal customers proved that we are the most popular vendor in this field to offer our AA Pass Guaranteed preparation questions. You can totally relay on us.
All CPA AA Pass Guaranteed actual exams are 100 percent assured.
Differ as a result the AA Pass Guaranteed questions torrent geared to the needs of the user level, cultural level is uneven, have a plenty of college students in school, have a plenty of work for workers, and even some low education level of people laid off, so in order to adapt to different level differences in users, the AA Pass Guaranteed exam questions at the time of writing teaching materials with a special focus on the text information expression, as little as possible the use of crude esoteric jargon, as much as possible by everyone can understand popular words to express some seem esoteric knowledge, so that more users through the AA Pass Guaranteed prep guide to know that the main content of qualification examination, stimulate the learning enthusiasm of the user, arouse their interest in learning.
Our veteran professional generalize the most important points of questions easily tested in the AA Pass Guaranteed practice exam into our practice questions. Their professional work-skill paid off after our AA Pass Guaranteed training materials being acceptable by tens of thousands of exam candidates among the market.
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
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
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
You can free download the demos which are part of our Adobe AD0-E207 exam braindumps, you will find that how good they are for our professionals devote of themselves on compiling and updating the most accurate content of our Adobe AD0-E207 exam questions. Microsoft SC-300 - Our experts have experience of the exam for over ten years. ISQI CTFL-Foundation - The clients can understand the detailed information about our products by visiting the pages of our products on our company’s website. As long as you study with ourEMC D-PCM-DY-23 learning guide, you will be sure to get your dreaming certification. Even you have no basic knowledge about the Appian ACA100 study materials.
Updated: May 26, 2022