Start your new journey, and have a successful life. It's better to hand-lit own light than look up to someone else's glory. Omgzlook CPA AA Latest Test Camp exam training materials will be the first step of your achievements. To make our AA Latest Test Camp simulating exam more precise, we do not mind splurge heavy money and effort to invite the most professional teams into our group. Omgzlook is a leading platform in this area by offering the most accurate AA Latest Test Camp exam questions to help our customers to pass the exam. After you used Omgzlook CPA AA Latest Test Camp dumps, you still fail in AA Latest Test Camp test and then you will get FULL REFUND.
Certified Public Accountant AA The results are accurate.
Certified Public Accountant AA Latest Test Camp - Audit & Insurance We promise during the process of installment and payment of our Audit & Insurance prep torrent, the security of your computer or cellphone can be guaranteed, which means that you will be not afraid of virus intrusion and personal information leakage. When you find it hard for you to learn on computers, you can learn the printed materials of the AA Reliable Exam Camp study materials. What is more, you absolutely can afford fort the three packages.
With many advantages such as immediate download, simulation before the real exam as well as high degree of privacy, our AA Latest Test Camp actual exam survives all the ordeals throughout its development and remains one of the best choices for those in preparation for AA Latest Test Camp exam. Many people have gained good grades after using our AA Latest Test Camp real dumps, so you will also enjoy the good results. Don’t hesitate any more.
CPA AA Latest Test Camp - A bad situation can show special integrity.
With the help of our AA Latest Test Camp study guide, you can adjust yourself to the exam speed and stay alert according to the time-keeper that we set on our AA Latest Test Camp training materials. Therefore, you can trust on our AA Latest Test Camp exam materials for this effective simulation function will eventually improve your efficiency and assist you to succeed in the AA Latest Test Camp exam. And we believe you will pass the AA Latest Test Camp exam just like the other people!
Omgzlook CPA AA Latest Test Camp exam training materials is the best choice to help you pass the exam. The training materials of Omgzlook website have a unique good quality on the internet.
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
Our Huawei H19-308_V4.0practice materials will provide you with a platform of knowledge to help you achieve your dream. Amazon SAA-C03 - If you fail in the exam, Omgzlook promises to give you FULL REFUND of your purchasing fees. Considering your practical constraint and academic requirements of the HP HPE0-G01 exam preparation, you may choose the HP HPE0-G01 practice materials with following traits. Microsoft AZ-900 - Because the SOFT version questions and answers completely simulate the actual exam. You can download and try out our Microsoft PL-300-KR guide questions demo before the purchase and use them immediately after you pay for them successfully.
Updated: May 26, 2022