So AA Sure Pass practice materials come within the scope of our business activities. Choose our AA Sure Pass learning guide, you won't regret! Having been handling in this line for more than ten years, we can assure you that our AA Sure Pass study questions are of best quality and reasonable prices for your information. You can totally rely on us! We never concoct any praise but show our capacity by the efficiency and profession of our AA Sure Pass practice materials. AA Sure Pass study engine is very attentive to provide a demo for all customers who concerned about our products, whose purpose is to allow customers to understand our product content before purchase.
Certified Public Accountant AA So customer orientation is the beliefs we honor.
So our AA - Audit & Insurance Sure Pass exam questions are real-exam-based and convenient for the clients to prepare for the exam. Besides, the pass rate of our Latest AA Test Question exam questions are unparalled high as 98% to 100%, you will get success easily with our help. There are so many features to show that our Latest AA Test Question study guide surpasses others.
However, the exam is very difficult for a lot of people. Especially if you do not choose the correct study materials and find a suitable way, it will be more difficult for you to pass the exam and get the CPA related certification. If you want to get the related certification in an efficient method, please choose the AA Sure Pass learning dumps from our company.
CPA AA Sure Pass - Omgzlook can give you a brighter future.
Our company have the higher class operation system than other companies, so we can assure you that you can start to prepare for the AA Sure Pass exam with our study materials in the shortest time. In addition, if you decide to buy AA Sure Pass exam materials from our company, we can make sure that your benefits will far exceed the costs of you. The rate of return will be very obvious for you. We sincerely reassure all people on the AA Sure Pass test question from our company and enjoy the benefits that our study materials bring. We believe that our study materials will have the ability to help all people pass their AA Sure Pass exam and get the related exam in the near future.
Then you no longer need to worry about being fired by your boss. The society has an abundance of capable people and there is a keen competition.
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
Next, through my introduction, I hope you can have a deeper understanding of our Fortinet NSE5_FSM-6.3 learning quiz. Omgzlook CPA SAP C_THR94_2405 exam training materials is the most effective way to pass the certification exam. EMC D-VXR-DY-23 - And you can free download the demo s to check it out. Would you like to pass CPA Microsoft PL-300-KR test and to get Microsoft PL-300-KR certificate? Omgzlook can guarantee your success. Microsoft MS-900 - Details determine success or failure, so our every detail is strictly controlled.
Updated: May 26, 2022