Our AA Questions And Answers exam quiz is so popular not only for the high quality, but also for the high efficiency services provided which owns to the efforts of all our staffs. First of all, if you are not sure about the AA Questions And Answers exam, the online service will find the most accurate and all-sided information for you, so that you can know what is going on about all about the exam and make your decision to buy AA Questions And Answers study guide or not. Omgzlook's providing learning materials can not only help you 100% pass the exam, but also provide you a free one-year update service. CPA AA Questions And Answers is one of the important certification exams. During the clients use our products they can contact our online customer service staff to consult the problems about our products.
Certified Public Accountant AA The rate of return will be very obvious for you.
Certified Public Accountant AA Questions And Answers - Audit & Insurance Then you no longer need to worry about being fired by your boss. Next, through my introduction, I hope you can have a deeper understanding of our AA Sample Test Online learning quiz. We really hope that our AA Sample Test Online practice engine will give you some help.
Omgzlook CPA AA Questions And Answers exam training materials is the most effective way to pass the certification exam. With this certification, you will achieve your dreams, and become successful. The curtain of life stage may be opened at any time, the key is that you are willing to show, or choose to avoid.
CPA AA Questions And Answers - You can really try it we will never let you down!
As a IT worker sometime you may know you will take advantage of new technology more quickly by farming out computer operations, we prefer to strengthen own strong points. Our AA Questions And Answers test braindump materials is popular based on that too. As we all know the passing rate for IT exams is low, the wise choice for candidates will select valid AA Questions And Answers test braindump materials to make you pass exam surely and fast. Professional handles professional affairs.
Our highly efficient operating system for learning materials has won the praise of many customers. If you are determined to purchase our AA Questions And Answers study tool, we can assure you that you can receive an email from our efficient system within 5 to 10 minutes after your payment, which means that you do not need to wait a long time to experience our learning materials.
AA PDF DEMO:
QUESTION NO: 1
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: 2
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: 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
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
The intelligence of the Salesforce Nonprofit-Cloud-Consultant test engine has inspired the enthusiastic for the study. SAP C_LCNC_2406 - Only firm people will reach the other side. No need to doubt and worry, thousands of candidates choose our exam training materials, you shouldn't miss this high pass-rate Microsoft AZ-700 training PDF materials. Our experts made significant contribution to their excellence of the ISACA CISA-KR study materials. All SAP C-THR82-2405 test questions offered by us are tested and selected by our senior experts in IT filed, which only need little time to focus on the practice and the preparation.
Updated: May 26, 2022