Our test engine has been introduced for the preparation of AA Vce Test Simulator practice test and bring great convenience for most IT workers. It will make you feel the atmosphere of the AA Vce Test Simulator actual test and remark the mistakes when you practice the exam questions. We strongly recommend that you should prepare your AA Vce Test Simulator exam pdf with our test engine before taking real exam. As for the AA Vce Test Simulator study materials themselves, they boost multiple functions to assist the learners to learn the AA Vce Test Simulator learning dumps efficiently from different angles. For example, the function to stimulate the exam can help the exam candidates be familiar with the atmosphere and the pace of the real AA Vce Test Simulator exam and avoid some unexpected problem occur such as the clients answer the questions in a slow speed and with a very anxious mood which is caused by the reason of lacking confidence. At first, it can be only used on PC.
Certified Public Accountant AA You’ve heard it right.
So AA - Audit & Insurance Vce Test Simulator practice materials come within the scope of our business activities. You can totally rely on us! We never concoct any praise but show our capacity by the efficiency and profession of our AA Sample Test Online practice materials.
AA Vce Test Simulator study engine is very attentive to provide a demo for all customers who concerned about our products, whose purpose is to allow customers to understand our product content before purchase. Many students suspect that if AA Vce Test Simulator learning material is really so magical? Does it really take only 20-30 hours to pass such a difficult certification exam successfully? It is no exaggeration to say that you will be able to successfully pass the exam with our AA Vce Test Simulator exam questions.
CPA AA Vce Test Simulator - So customer orientation is the beliefs we honor.
Our Audit & Insurance study question is compiled and verified by the first-rate experts in the industry domestically and they are linked closely with the real exam. Our products’ contents cover the entire syllabus of the exam and refer to the past years’ exam papers. Our test bank provides all the questions which may appear in the real exam and all the important information about the exam. You can use the practice test software to test whether you have mastered the Audit & Insurance test practice dump and the function of stimulating the exam to be familiar with the real exam’s pace, atmosphere and environment. So our AA Vce Test Simulator exam questions are real-exam-based and convenient for the clients to prepare for the exam.
Besides, the pass rate of our AA Vce Test Simulator exam questions are unparalled high as 98% to 100%, you will get success easily with our help. There are so many features to show that our AA Vce Test Simulator study guide surpasses others.
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
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: 3
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: 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
If you want to get the related certification in an efficient method, please choose the Fortinet FCSS_ADA_AR-6.7 learning dumps from our company. CompTIA 220-1101 - This is hard to find and compare with in the market. Our company has successfully created ourselves famous brands in the past years, and more importantly, all of the SAP C-TS410-2022 exam braindumps from our company have been authenticated by the international authoritative institutes and cater for the demands of all customers at the same time. Since our Splunk SPLK-5001 exam torrent is designed on the purpose to be understood by our customers all over the world, it is compiled into the simplest language to save time and efforts. If you do not receive our email, you can directly send an email to ask us for the new version of the NAHQ CPHQ study materials.
Updated: May 26, 2022