With the Omgzlook of CPA AA New Study Guide Sheet exam materials, I believe that your tomorrow will be better. Omgzlook has gained the reputation of the many certification industry, because we have a lot of high-quality CPA AA New Study Guide Sheet Exam AA New Study Guide Sheet study guide, AA New Study Guide Sheet exam, AA New Study Guide Sheet exam answer. As the most professional supplier on the site of IT certification test currently , we provide a comprehensive after-sales service. We totally understand your mood to achieve success at least the AA New Study Guide Sheet exam questions right now, so our team makes progress ceaselessly in this area to make better AA New Study Guide Sheet study guide for you. We supply both goods which are our AA New Study Guide Sheet practice materials as well as high quality services. If you want to through CPA AA New Study Guide Sheet certification exam, add the Omgzlook CPA AA New Study Guide Sheet exam training to Shopping Cart quickly!
The way to pass the AA New Study Guide Sheet actual test is diverse.
It is known to us that practicing the incorrect questions is very important for everyone, so our AA - Audit & Insurance New Study Guide Sheet exam question provide the automatic correcting system to help customers understand and correct the errors. Reliable AA Dumps Files online test engine can simulate the actual test, which will help you familiar with the environment of the Reliable AA Dumps Files real test. The Reliable AA Dumps Files self-assessment features can bring you some convenience.
The three versions of our AA New Study Guide Sheet exam questions are PDF & Software & APP version for your information. Each one has its indispensable favor respectively. All AA New Study Guide Sheet training engine can cater to each type of exam candidates’ preferences.
CPA AA New Study Guide Sheet - In fact, our aim is the same with you.
For a long time, high quality is our AA New Study Guide Sheet exam questions constantly attract students to participate in the use of important factors, only the guarantee of high quality, to provide students with a better teaching method, and at the same time the AA New Study Guide Sheet practice quiz brings more outstanding teaching effect. Our high-quality AA New Study Guide Sheet} learning guide help the students know how to choose suitable for their own learning method, our AA New Study Guide Sheet study materials are a very good option.
More importantly, it is evident to all that the AA New Study Guide Sheet training materials from our company have a high quality, and we can make sure that the quality of our products will be higher than other study materials in the market. If you want to pass the AA New Study Guide Sheet exam and get the related certification in the shortest time, choosing the AA New Study Guide Sheet training materials from our company will be in the best interests of all people.
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
All the preparation material reflects latest updates in Microsoft MB-910 certification exam pattern. Nutanix NCSE-Core - The trick to the success is simply to be organized, efficient, and to stay positive about it. SAP C-THR81-2405 - This innovative facility provides you a number of practice questions and answers and highlights the weak points in your learning. And you will get all you desire with our APICS CSCP exam questions. Juniper JN0-649 - Our behavior has been strictly ethical and responsible to you, which is trust worthy.
Updated: May 26, 2022