Our AA Exam Dumps Questions study guide will be the best choice for your time, money and efforts. In compliance with syllabus of the exam, our AA Exam Dumps Questions preparation materials are determinant factors giving you assurance of smooth exam. Our AA Exam Dumps Questions actual exam comprise of a number of academic questions for your practice, which are interlinked and helpful for your exam. The PDF version of our AA Exam Dumps Questions guide quiz is prepared for you to print it and read it everywhere. It is convenient for you to see the answers to the questions and remember them. All contents of the AA Exam Dumps Questions exam questions are masterpieces from experts who imparted essence of the exam into our AA Exam Dumps Questions study prep.
Certified Public Accountant AA Everything is changing so fast.
Certified Public Accountant AA Exam Dumps Questions - Audit & Insurance These training products to help you pass the exam, we guarantee to refund the full purchase cost. And we always have a very high hit rate on the AA Valid Practice Questions Pdf study guide by our customers for our high pass rate is high as 98% to 100%. No matter where you are or what you are, AA Valid Practice Questions Pdf practice questions promises to never use your information for commercial purposes.
This will not only lead to a waste of training costs, more importantly, the candidates wasted valuable time. Here, I recommend a good learning materials website. Some of the test data on the site is free, but more importantly is that it provides a realistic simulation exercises that can help you to pass the CPA AA Exam Dumps Questions exam.
CPA AA Exam Dumps Questions - it can help you to pass the IT exam.
If you really want to pass the AA Exam Dumps Questions exam faster, choosing a professional product is very important. Our AA Exam Dumps Questions study materials can be very confident that we are the most professional in the industry's products. We are constantly improving and just want to give you the best AA Exam Dumps Questions learning braindumps. And we have engaged for years to become a trustable study flatform for helping you pass the AA Exam Dumps Questions exam.
To pass the CPA AA Exam Dumps Questions exam, in fact, is not so difficult, the key is what method you use. Omgzlook's CPA AA Exam Dumps Questions exam training materials is a good choice.
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
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: 3
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: 4
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: 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
As you can imagine that you can get a promotion sooner or latter, not only on the salary but also on the position, so what are you waiting for? Just come and buy our IBM C1000-174 study braindumps. To get the CPA EMC D-PSC-MN-23 exam certification is the goal of many IT people & Network professionals. Of course you can freely change another CompTIA DY0-001 exam guide to prepare for the next exam. Microsoft SC-400 - And don't worry about how to pass the test, Omgzlook certification training will be with you. Our SAP C-THR89-2405 study braindumps are so popular in the market and among the candidates that is because that not only our SAP C-THR89-2405 learning guide has high quality, but also our SAP C-THR89-2405 practice quiz is priced reasonably, so we do not overcharge you at all.
Updated: May 26, 2022