To help you pass the AA Latest Exam Cram Materials exam is our goal. The close to 100% passing rate of our dumps allow you to be rest assured in our products. Not all vendors dare to promise that if you fail the exam, we will give you a full refund. You can free download the part of CPA AA Latest Exam Cram Materials exam questions and answers Omgzlook provide as an attempt to determine the reliability of our products. I believe you will be very satisfied of our products. If you worry about your exam, our AA Latest Exam Cram Materials exam training dumps will guide you and make you well preparing,you will pass exam without any doubt.
We have the complete list of popular AA Latest Exam Cram Materials exams.
Actually, AA - Audit & Insurance Latest Exam Cram Materials exam really make you anxious. Our professional experts not only have simplified the content and grasp the key points for our customers, but also recompiled the Latest AA Practice Materials preparation materials into simple language so that all of our customers can understand easily no matter which countries they are from. In such a way, you will get a leisure study experience as well as a doomed success on your coming Latest AA Practice Materials exam.
Every version of AA Latest Exam Cram Materials study materials that we provide to you has its own advantage: the PDF version has no equipment limited, which can be read anywhere; the online version can use on any electronic equipment there is network available; the software version can simulate the real AA Latest Exam Cram Materials exam environment to let you have more real feeling to AA Latest Exam Cram Materials real exam, besides the software version can be available installed on unlimited number devices.
CPA AA Latest Exam Cram Materials - You can study any time anywhere you want.
We guarantee that after purchasing our AA Latest Exam Cram Materials exam torrent, we will deliver the product to you as soon as possible within ten minutes. So you don’t need to wait for a long time and worry about the delivery time or any delay. We will transfer our Audit & Insurance prep torrent to you online immediately, and this service is also the reason why our AA Latest Exam Cram Materials test braindumps can win people’s heart and mind. Therefore, you are able to get hang of the essential points in a shorter time compared to those who are not willing to use our AA Latest Exam Cram Materials exam torrent.
Our IT professionals have made their best efforts to offer you the latest AA Latest Exam Cram Materials study guide in a smart way for the certification exam preparation. With the help of our AA Latest Exam Cram Materials dumps collection, all level of candidates can grasp the key content of the real exam and solve the difficulty of AA Latest Exam Cram Materials real questions easily.
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
Passing a Dell D-PDM-A-01 exam to get a certificate will help you to look for a better job and get a higher salary. We promise you will get high passing mark with our valid ACFE CFE exam torrent and your money will be back to your account if you failed exam with our study materials. You will love our Dell D-PWF-RDY-A-00 exam questions as long as you have a try! We often regard learning for Dell D-RPVM-A-01 exam as a torture. ISQI CTAL-TTA_Syll19_4.0 - And they are the masterpieces of processional expertise these area with reasonable prices.
Updated: May 26, 2022