Would you like to pass CPA AA Reliable Exam Vce test and to get AA Reliable Exam Vce certificate? Omgzlook can guarantee your success. When you are preparing for AA Reliable Exam Vce exam, it is necessary to learn test related knowledge. What's more important, you must choose the most effective exam materials that suit you. For example, our learning material's Windows Software page is clearly, our AA Reliable Exam Vce Learning material interface is simple and beautiful. There are no additional ads to disturb the user to use the Audit & Insurance qualification question. How do you do that? The method is very simple, that is to use Omgzlook CPA AA Reliable Exam Vce dumps to prepare for your exam.
Certified Public Accountant AA As you know, life is like the sea.
If you are willing, our AA - Audit & Insurance Reliable Exam Vce training PDF can give you a good beginning. Our effort in building the content of our Valid AA Test Materials learning questions lead to the development of learning guide and strengthen their perfection. Our Valid AA Test Materials practice braindumps beckon exam candidates around the world with our attractive characters.
We provide our customers with the most reliable learning materials about AA Reliable Exam Vce certification exam and the guarantee of pass. We assist you to prepare the key knowledge points of AA Reliable Exam Vce actual test and obtain the up-to-dated exam answers. All AA Reliable Exam Vce 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.
Now, quickly download CPA AA Reliable Exam Vce free demo for try.
Being anxious for the AA Reliable Exam Vce exam ahead of you? Have a look of our AA Reliable Exam Vce training engine please. Presiding over the line of our practice materials over ten years, our experts are proficient as elites who made our AA Reliable Exam Vce learning questions, and it is their job to officiate the routines of offering help for you. All points are predominantly related with the exam ahead of you. You will find the exam is a piece of cake with the help of our AA Reliable Exam Vce study materials.
You just need 20-30 hours for preparation and feel confident to face the AA Reliable Exam Vce actual test. AA Reliable Exam Vce questions & answers cover all the key points of the real test.
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
And if you want to get all benefits like that, our SAP C_TS462_2023 training quiz is your rudimentary steps to begin. The more time you spend in the preparation for SAP C-TS422-2023 training materials, the higher possibility you will pass the exam. If you have bought the Cisco 300-420 exam questions before, then you will know that we have free demos for you to download before your purchase. Amazon SAP-C02 - You must use it before the deadline day. By concluding quintessential points into SAP C-ABAPD-2309 actual exam, you can pass the exam with the least time while huge progress.
Updated: May 26, 2022