With it, you will be brimming with confidence, fully to do the exam preparation. Why do most people choose Omgzlook? Because Omgzlook could bring great convenience and applicable. It is well known that Omgzlook provide excellent CPA AA Latest Exam Guide Files exam certification materials. We have three packages of the AA Latest Exam Guide Files study materials: the PDF, Software and APP online and each one of them has its respect and different advantages. So you can choose as you like accoding to your study interest and hobbies. Omgzlook CPA AA Latest Exam Guide Files exam training materials can help IT personnel to achieve this purpose.
Certified Public Accountant AA But they do not know which to believe.
Having a CPA AA - Audit & Insurance Latest Exam Guide Files certification can enhance your employment prospects,and then you can have a lot of good jobs. This is indeed true, no doubt, do not consider, act now. In this era, everything is on the rise.
With Omgzlook's help, you do not need to spend a lot of money to participate in related cram or spend a lot of time and effort to review the relevant knowledge, but can easily pass the exam. Simulation test software of CPA AA Latest Exam Guide Files exam is developed by Omgzlook's research of previous real exams. Omgzlook's CPA AA Latest Exam Guide Files exam practice questions have a lot of similarities with the real exam practice questions.
CPA AA Latest Exam Guide Files - Our strength will make you incredible.
The secret that Omgzlook helps many candidates pass AA Latest Exam Guide Files exam is CPA exam questions attentively studied by our professional IT team for years, and the detailed answer analysis. We constantly updated the AA Latest Exam Guide Files exam materials at the same time with the exam update. We try our best to ensure 100% pass rate for you.
The opportunity always belongs to a person who has the preparation. But, when opportunities arise, will you seize the opportunities successfully? At present, you are preparing for CPA AA Latest Exam Guide Files 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
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
Besides, the detailed answers analysis provided by our professionals will make you be more confidence to pass CompTIA PT0-003 exam. CPA VMware 3V0-21.23 exam is very popular in IT field. If you want to know our Dell D-DLM-A-01 test questions materials, you can download our free demo now. Huawei H19-315-ENU - Within a year, only if you would like to update the materials you have, you will get the newer version. Excellent CPA Genesys GCX-SCR study guide make candidates have clear studying direction to prepare for your test high efficiently without wasting too much extra time and energy.
Updated: May 26, 2022