With our AA Test Collection File practice materials, and your persistence towards success, you can be optimistic about your AA Test Collection File real dumps. Even you have bought our AA Test Collection File learning braindumps, and we will send the new updates to you one year long. On one hand, all content can radically give you the best backup to make progress. Trust me, you can't find anything better than our AA Test Collection File study materials. If you think I am exaggerating, you can try it for yourself. The moment you money has been transferred to our account, and our system will send our AA Test Collection Filetraining dumps to your mail boxes so that you can download AA Test Collection File exam questions directly.
Our AA Test Collection File exam materials can help you realize it.
For we have engaged in this career for years and we are always trying our best to develope every detail of our AA - Audit & Insurance Test Collection File study quiz. Every page and every points of knowledge have been written from professional experts who are proficient in this line and are being accounting for this line over ten years. And they know every detail about our Exam AA Questions Pdf learning prep and can help you pass the exam for sure.
If you are worry about the coming AA Test Collection File exam, our AA Test Collection File study materials will help you solve your problem. In order to promise the high quality of our AA Test Collection File exam questions, our company has outstanding technical staff, and has perfect service system after sale. More importantly, our good AA Test Collection File guide quiz and perfect after sale service are approbated by our local and international customers.
CPA AA Test Collection File - Please give us a chance to prove.
We provide online customer service to the customers for 24 hours per day and we provide professional personnel to assist the client in the long distance online. If you have any questions and doubts about the Audit & Insurance guide torrent we provide before or after the sale, you can contact us and we will send the customer service and the professional personnel to help you solve your issue about using AA Test Collection File exam materials. The client can contact us by sending mails or contact us online. We will solve your problem as quickly as we can and provide the best service. Our after-sales service is great as we can solve your problem quickly and won’t let your money be wasted. If you aren’t satisfied with our AA Test Collection File exam torrent you can return back the product and refund you in full.
In modern society, innovation is of great significance to the survival of a company. The new technology of the AA Test Collection File study materials is developing so fast.
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
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: 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
With high-quality EMC D-PSC-DY-23 guide materials and flexible choices of learning mode, they would bring about the convenience and easiness for you. Because, after all, Amazon SAA-C03 is a very important certified exam of CPA. IBM C1000-169 - Need any help, please contact with us again! In order to pass CPA certification Microsoft AI-900 exam disposably, you must have a good preparation and a complete knowledge structure. EMC D-GAI-F-01 - Many people, especially the in-service staff, are busy in their jobs, learning, family lives and other important things and have little time and energy to learn and prepare the exam.
Updated: May 26, 2022