In addition, our AA Study Guide provides end users with real questions and answers. We have been working hard to update the latest AA Study Guide learning materials and provide all users with the correct AA Study Guide answers. Therefore, our AA Study Guide learning materials always meet your academic requirements. Revealing whether or not a man succeeded often reflect in the certificate he obtains, so it is in IT industry. Therefore there are many people wanting to take CPA AA Study Guide exam to prove their ability. On the other hand, under the guidance of high quality research materials, the rate of adoption of the AA Study Guide study materials preparation is up to 98% to 100%.
To help you pass the AA Study Guide exam is our goal.
I have confidence in our Omgzlook products that soon Omgzlook's exam questions and answers about CPA AA - Audit & Insurance Study Guide will be your choice and you will pass CPA certification AA - Audit & Insurance Study Guide exam successfully. If you worry about your exam, our Hot AA Questions exam training dumps will guide you and make you well preparing，you will pass exam without any doubt. How to find a valid exam dumps providers which can elaborate on how to prepare you properly with more appropriate questions to pass Hot AA Questions exams? Yes, here is your chance to know us.
Omgzlook is a website to provide a targeted training for CPA certification AA Study Guide exam. Omgzlook is also a website which can not only make your expertise to get promoted, but also help you pass CPA certification AA Study Guide exam for just one time. The training materials of Omgzlook are developed by many IT experts' continuously using their experience and knowledge to study, and the quality is very good and have very high accuracy.
We have the complete list of popular CPA AA Study Guide exams.
Actually, AA Study Guide exam really make you anxious. You may have been suffering from the complex study materials, why not try our AA Study Guide exam software of Omgzlook to ease your burden. Our IT elite finally designs the best AA Study Guide exam study materials by collecting the complex questions and analyzing the focal points of the exam over years. Even so, our team still insist to be updated ceaselessly, and during one year after you purchased AA Study Guide exam software, we will immediately inform you once the AA Study Guide exam software has any update.
After our unremitting efforts, AA Study Guide learning guide comes in everybody's expectation. Our professional experts not only have simplified the content and grasp the key points for our customers, but also recompiled the AA Study Guide preparation materials into simple language so that all of our customers can understand easily no matter which countries they are from.
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 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: 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
Every version of Adobe AD0-E906 study materials that we provide to you has its own advantage: the PDF version has no equipment limited, which can be read anywhere; the online version can use on any electronic equipment there is network available; the software version can simulate the real Adobe AD0-E906 exam environment to let you have more real feeling to Adobe AD0-E906 real exam, besides the software version can be available installed on unlimited number devices. By passing the exams multiple times on practice test software, you will be able to pass the real VMware 3V0-32.23 test in the first attempt. You will get the most valid and best useful IBM S2000-024 study material with a reasonable price. Cisco 200-901 - So you can relay on us to success and we won't let you down! SailPoint IdentityIQ-Engineer is the authentic study guides with the latest exam material which can help you solve all the difficulties in the actual test.
Updated: May 26, 2022