It is believed that no one is willing to buy defective products, so, the AA Practice Exam study guide has established a strict quality control system. The entire compilation and review process for latest AA Practice Exam exam dump has its own set of normative systems, and the AA Practice Exam practice materials have a professional proofreader to check all content. Only through our careful inspection, the study material can be uploaded to our platform. Our payment system will automatically delete your payment information once you finish paying money for our AA Practice Exam exam questions. Our company has built the culture of integrity from our establishment. It can be that the process is not delayed, so users can start their happy choice journey in time.
Certified Public Accountant AA Just make your own decisions.
Certified Public Accountant AA Practice Exam - Audit & Insurance And you can free donwload the demos to have a look. But even the best people fail sometimes. In addition to the lack of effort, you may also not make the right choice on our AA Reliable Test Guide Files exam questions.
And our AA Practice Exam study braindumps deliver the value of our services. So our AA Practice Exam real questions may help you generate financial reward in the future and provide more chances to make changes with capital for you and are indicative of a higher quality of life. It is not just an easy decision to choose our AA Practice Exam prep guide, because they may bring tremendous impact on your individuals development.
CPA AA Practice Exam - Just have a try and you will love them!
After the user has purchased our AA Practice Exam learning materials, we will discover in the course of use that our product design is extremely scientific and reasonable. Details determine success or failure, so our every detail is strictly controlled. For example, our learning material's Windows Software page is clearly, our AA Practice Exam Learning material interface is simple and beautiful. There are no additional ads to disturb the user to use the AA Practice Exam learning material. Once you have submitted your practice time, AA Practice Exam learning Material system will automatically complete your operation.
The best way to gain success is not cramming, but to master the discipline and regular exam points of question behind the tens of millions of questions. Our AA Practice Exam preparation materials can remove all your doubts about the exam.
AA PDF DEMO:
QUESTION NO: 1
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
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
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: 4
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: 5
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
Huawei H12-811_V1.0 - As we all know, the world does not have two identical leaves. HP HPE6-A73 - You will get satisfied answers after consultation. Amazon SAA-C03-KR - Our Omgzlook is a professional website to provide accurate exam material for a variety of IT certification exams. Our HP HP2-I58 learning guide allows you to study anytime, anywhere. Senior IT experts in the Omgzlook constantly developed a variety of successful programs of passing CPA certification Hitachi HQT-4420 exam, so the results of their research can 100% guarantee you CPA certification Hitachi HQT-4420 exam for one time.
Updated: May 26, 2022