CPA Audit & Insurance 認定 AA 試験問題:

1. Rostar Ltd develops games for X-box and PCs. The unique gaming experience made the company outstandingly popular among the local customers and its last game release outperform its expectation. This popularity leads to sudden growth in revenues that quadrupled during the last period. As a result, Rostar Ltd is now obliged to have a statutory audit for the first time.
Which of the following is not a benefit that Rostar Ltd may obtain from the statutory audit?

A) Independent confirmation of profits earned/net assets
B) Recommendations on systems via management letter
C) Assurance of compliance with Companies Act
D) Increased accountability of the IT department

2. 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) Observation of a procedure
B) Test of control
C) Analytical procedure
D) Walk-through test

3. Julia is a member of a professional accountancy body who works in industry at KiwiCorp plc, a listed company. The company is experiencing difficulty meeting the expectations of the market, and Julia has been told by the board of directors that the company must meet
its optimistic profit targets at the year end. To achieve this target and for good corporate governance practice KiwiCorp is to set an active audit committee.
Which of the following statements about audit committee is NOT correct?

A) Listed companies are required to have an audit committee
B) Audit committees are an important aspect of a company's control environment
C) Audit committees are considered to be good practice for all large companies
D) At least 50% of the members of an audit committee must be non-executive directors

4. Frederich Gastona has been invited by ECA Co to perform the audit of financial statements of 2012-13. When deciding whether to accept an auditing engagement, Frederich must judge his independence and objectivity. If Frederich's audit firm lacks independence or objectivity, Frederich can't accept the engagement.
What does "Independence" mean in the context of the above case?

A) Remaining aloof from client ECA Co.
B) Being an advocate for ECA Co in the law suit.
C) Not being financially dependent on client ECA Co.
D) Taking an unbiased viewpoint while conducting audit of ECA Co.

5. Robert Sen is performing the audit of financial statement of Loko Plc., the objective is to express an opinion as to whether the financial statements are prepared, in all material respects, in accordance with an applicable financial reporting framework.
Which of the following statements is correct about the preliminary judgment about materiality of financial statements of Loko Plc?

A) This is the mean average amount by which Robert Sen believes the statements of Loko Plc could be misstated and still not affect the decisions of reasonable users.
B) This is the median average amount by which Robert Sen believes the statements of Loko Plc could be misstated and still not affect the decisions of reasonable users.
C) This is the minimum amount by which Robert Sen believes the statements of Loko Plc could be misstated and still not affect the decisions of reasonable users.
D) This is the maximum amount by which Robert Sen believes the statements of Loko Plc could be misstated and still not affect the decisions of reasonable users.

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