AUD Study Group Q2 2015 - Page 16

  • Creator
    Topic
  • March 5, 2015 at 8:09 pm #192520
    jeff
    Keymaster

    Welcome to the Q2 2015 CPA Exam Study Group for AUD.

    World Premier: “Unmodified” (Audit Reports Rap Video) 🙂

    Posted by Another71 on Thursday, November 13, 2014

    Free NINJA: https://www.another71.com/cpa-exam-study-plan/

    Jeff Elliott, CPA (KS) | Another71 | NINJA CPA | NINJA CMA | NINJA CPE

Viewing 15 replies - 226 through 240 (of 1,631 total)
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  • March 15, 2015 at 6:22 pm #668572
    trish_1234
    Member

    An auditor who discovers that a client’s employees paid small bribes to municipal officials most likely would withdraw from the engagement if

    A. Documentation that is necessary to prove that the bribes were paid does not exist.

    B. The client receives financial assistance from a federal government agency.

    C. The payments violated the client’s policies regarding the prevention of illegal acts.

    D. Management fails to take the appropriate remedial action.

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    March 15, 2015 at 6:36 pm #668573
    Martin
    Participant

    D. Management fails to take the appropriate remedial action.

    Through God all things can happen!

    “You never fail until you stop trying.”
    ― Albert Einstein
    When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
    “Just keep swimming, just keep swimming.”

    FAR= 72-84
    Audit= 73-82
    BEC= 74-75
    Reg=77

    March 15, 2015 at 6:38 pm #668574
    trish_1234
    Member

    Answer (D) is correct.

    When the auditor concludes that an illegal act has or is likely to have occurred, (s)he should discuss the matter with the appropriate level of management and request that any necessary remedial actions be taken. If the alleged noncompliance has a material effect on the financial statements or the client does not take the remedial action that the auditor considers necessary, the auditor should express a qualified or adverse opinion, depending on the level of materiality, or withdraw from the engagement.

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    March 15, 2015 at 7:33 pm #668575
    Anonymous
    Inactive

    Which of the following is least likely to aid the auditor in evaluating the risk of improper revenue recognition due to fraud?

    a.

    Comparison of sales volume, as determined from recorded revenue amounts, with production capacity.

    b.

    Analysis of sales commissions over the most recent five-year period.

    c.

    Trend analysis of revenues and sales returns by month.

    d.

    Comparison of revenue reported by month and by product line for the current and prior years.

    March 15, 2015 at 7:49 pm #668576
    trish_1234
    Member

    B

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    March 15, 2015 at 8:03 pm #668577
    Martin
    Participant

    b.

    Analysis of sales commissions over the most recent five-year period.

    Through God all things can happen!

    “You never fail until you stop trying.”
    ― Albert Einstein
    When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
    “Just keep swimming, just keep swimming.”

    FAR= 72-84
    Audit= 73-82
    BEC= 74-75
    Reg=77

    March 15, 2015 at 8:04 pm #668578
    trish_1234
    Member

    A. lol

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    March 15, 2015 at 8:06 pm #668579
    WANNABE_CPA
    Member

    B? What would be most likely, A or D ?

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    March 15, 2015 at 8:10 pm #668580
    trish_1234
    Member

    A

    i think that fraud on revenue to be mm knowing capacity is good

    Approach

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

    March 15, 2015 at 8:29 pm #668581
    Anonymous
    Inactive

    B is correct,

    I would think its A.

    This doesn't make any sense because… How could an amount ” determined from recorded revenue amount” provide any evidence that that revenue amount is correct.

    March 15, 2015 at 10:01 pm #668582
    Martin
    Participant

    Which of the following is a control activity that most likely could help prevent employee payroll fraud?

    A.

    The personnel department promptly sends employee termination notices to the payroll supervisor.

    B.

    Employees who distribute payroll checks forward unclaimed payroll checks to the absent employees' supervisors.

    C.

    Salary rates resulting from new hires are approved by the payroll supervisor.

    D.

    Total hours used for determination of gross pay are calculated by the payroll supervisor.

    Through God all things can happen!

    “You never fail until you stop trying.”
    ― Albert Einstein
    When I was young, I used to admire intelligent people;as I grow older, I admire kind people.
    “Just keep swimming, just keep swimming.”

    FAR= 72-84
    Audit= 73-82
    BEC= 74-75
    Reg=77

    March 15, 2015 at 10:05 pm #668583
    WANNABE_CPA
    Member

    A?

    FAR : 68, 74, 83 Thank you God 🙂
    BEC : 78 (8/27) 🙂
    REG : 72 ,80 (2/25) 🙂
    AUD : 69,67, 07/23

    March 15, 2015 at 10:31 pm #668584
    ladybossxo
    Participant

    A?

    CPA Exams Done.

    March 15, 2015 at 10:38 pm #668585
    ruggercpa2b
    Participant

    C

    AUD - 73, 72 retake 7/2/2016
    BEC - 8/20/2016
    REG - TBD
    FAR - TBD

    I am so ready for this nightmare to be over. Been at this way too long.

    March 15, 2015 at 11:05 pm #668586
    trish_1234
    Member

    a

    AUD 69, 92 7/15 Gleim and Ninja test bank
    FAR sometime in 10/15 Gleim
    BEC not taken
    REG not taken

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