our advanced operation system on the AA Test Answers learning guide will automatically encrypt all of the personal information on our AA Test Answers practice dumps of our buyers immediately, and after purchasing, it only takes 5 to 10 minutes before our operation system sending our AA Test Answers study materials to your email address, there is nothing that you need to worry about, and we will spear no effort to protect your interests from any danger and ensure you the fastest delivery. Now, please choose our AA Test Answers dumps torrent for your 100% passing. As an authorized website, Omgzlook provide you with the products that can be utilized most efficiently. You can learn our AA Test Answers test prep in the laptops or your cellphone and study easily and pleasantly as we have different types, or you can print our PDF version to prepare your exam which can be printed into papers and is convenient to make notes.
Certified Public Accountant AA And then, you can learn anytime, anywhere.
With 100% Guaranteed of Success: Omgzlook’s promise is to get you a wonderful success in AA - Audit & Insurance Test Answers certification exams. The clients can download our Reliable AA Exam Topics exam questions and use our them immediately after they pay successfully. Our system will send our Reliable AA Exam Topics learning prep in the form of mails to the client in 5-10 minutes after their successful payment.
24/7 customer support is favorable to candidates who can email us if they find any ambiguity in the AA Test Answers exam dumps, our support will merely reply to your all AA Test Answers exam product related queries. Omgzlook makes your AA Test Answers exam preparation easy with it various quality features. Our AA Test Answers exam braindumps come with 100% passing and refund guarantee.
CPA AA Test Answers - It is your right time to make your mark.
Now, let us show you why our AA Test Answers exam questions are absolutely your good option. First of all, in accordance to the fast-pace changes of bank market, we follow the trend and provide the latest version of AA Test Answers study materials to make sure you learn more knowledge. Secondly, since our AA Test Answers training quiz appeared on the market, seldom do we have the cases of customer information disclosure. We really do a great job in this career!
Everyone's life course is irrevocable, so missing the opportunity of this time will be a pity. During the prolonged review, many exam candidates feel wondering attention is hard to focus.
AA PDF DEMO:
QUESTION NO: 1
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: 2
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: 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
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
QUESTION NO: 5
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
Network Appliance NS0-404 - So 20-30 hours of study is enough for you to deal with the exam. They always treat customers with courtesy and respect to satisfy your need on our SAP C-THR83-2405 exam dumps. How can our SAP C-S4TM-2023 practice materials become salable products? Their quality with low prices is unquestionable. Esri EJSA_2024 - Our software is equipped with many new functions, such as timed and simulated test functions. The questions and answers of our Google Professional-Data-Engineer study tool have simplified the important information and seized the focus and are updated frequently by experts to follow the popular trend in the industry.
Updated: May 26, 2022