Every once in a while we will release the new version study materials. You will enjoy our newest version of the AA Practice Questions Free study prep after you have purchased them. Our ability of improvement is stronger than others. After you use our study materials, you can get AA Practice Questions Free certification, which will better show your ability, among many competitors, you will be very prominent. Using AA Practice Questions Free exam prep is an important step for you to improve your soft power. At the same time, all operation of the online engine of the AA Practice Questions Free training practice is very flexible as long as the network is stable.
Certified Public Accountant AA It will be a first step to achieve your dreams.
There may be a lot of people feel that the preparation process for AA - Audit & Insurance Practice Questions Free exams is hard and boring, and hard work does not necessarily mean good results, which is an important reason why many people are afraid of examinations. So there is nothing to worry about, just buy our Valid AA Exam Pass4Sure exam questions. It is our consistent aim to serve our customers wholeheartedly.
Our target is to reduce your pressure and improve your learning efficiency from preparing exam. AA Practice Questions Free effective exam dumps are significance for studying and training. As a rich experienced exam dump provider, we will provide you with one of the best tools available to you for pass AA Practice Questions Free exam.
CPA AA Practice Questions Free - It is useless if you do not prepare well.
Annual test syllabus is essential to predicate the real AA Practice Questions Free questions. So you must have a whole understanding of the test syllabus. After all, you do not know the AA Practice Questions Free exam clearly. It must be difficult for you to prepare the AA Practice Questions Free exam. Then our study materials can give you some guidance. All questions on our AA Practice Questions Free study materials are strictly in accordance with the knowledge points on newest test syllabus. Also, our experts are capable of predicating the difficult knowledge parts of the AA Practice Questions Free exam according to the test syllabus. We have tried our best to simply the difficult questions. In order to help you memorize the AA Practice Questions Free study materials better, we have detailed explanations of the difficult questions such as illustration, charts and referring website. Every year some knowledge is reoccurring over and over. You must ensure that you master them completely.
As we all know, time and tide wait for no man. And our AA Practice Questions Free practice engine will be your best friend to help you succeed.
AA PDF DEMO:
QUESTION NO: 1
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: 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
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
When you try our part of CPA certification EMC D-CSF-SC-23 exam practice questions and answers, you can make a choice to our Omgzlook. Now Omgzlook provide you a effective method to pass CPA certification Microsoft PL-500 exam. Microsoft AZ-801 - Selecting Omgzlook, you will be an IT talent. Now you can free download part of practice questions and answers of CPA certification PECB ISO-IEC-27001-Lead-Auditor-KR exam on Omgzlook. People who have got CPA EMC D-PVM-OE-23 certification often have much higher salary than counterparts who don't have the certificate.
Updated: May 26, 2022