ACCA F8 Revision Quiz

Please take ACCA F8 Revision Quiz

To complete the quiz you must answer all 20 questions, then you will be shown the results and the correct answers.

(This quiz selects 20 questions at random from the bank, so do try the test again)


1. What sort of ethical threat arises from the auditor owning shares in the company audited?

 
 
 
 
 

Question 1 of 20

2. What type of audit report is given if the FS contain a pervasive material misstatement?

 
 
 
 

Question 2 of 20

3. What is the correct treatment of a contingent asset where the inflow of economic benefits is not probable?

 
 
 

Question 3 of 20

4. In what type of document would the following sentence be typically found?

“We have no plans or intentions that might materially affect the carrying value or classification of assets and liabilities reflected in the financial statements”

 
 
 
 

Question 4 of 20

5. * * * risk is the susceptability of an assertion to a misstatement that could be material individually or when aggregated with misstatements, assuming there were no related internal controls.

What word should appear for * * *?

Question 5 of 20

6. If an auditor advises clients to buy shares in another client, what sort of ethical threat arises?

 
 
 
 
 

Question 6 of 20

7. What word should appear for * * *?

* * * risk is the risk that a material misstatement in an assertion will not be prevented or detected and corrected on a timely basis by the entity’s internal control.

Question 7 of 20

8. What is another name for a reasonable assurance engagement?

 
 
 
 

Question 8 of 20

9. Is the following question typical of an internal control questionnaire (ICQ) or an internal control evaluation questionnaire (ICEQ)? “Can employees be paid for hours that have not been worked?”

 
 

Question 9 of 20

10. In a listed company, to whom should internal audit report?

 
 
 
 
 

Question 10 of 20

11. Audit risk is the risk that an **** audit opinion is given.

Question 11 of 20

12. What sort of ethical threat arises from the auditor auditing financial statements that the auditor also prepared?

 
 
 
 
 

Question 12 of 20

13. Is the following true or false?

Under the UK government code listed companies are required to have an internal audit department

 
 

Question 13 of 20

14. What range of percentage of profit is often taken as guidance for materiality?

 
 
 

Question 14 of 20

15. A receivables circulation in which a reply is expected from each customer written to, stating whether or not they agree with the balance.

This is a …

 
 
 
 

Question 15 of 20

16. Which one of the following is NOT a component of the three components of audit risk?

 
 
 
 

Question 16 of 20

17. ACCA suggest that lead audit partners should be rotated no less frequently than how many years?

 
 
 
 

Question 17 of 20

18. What type of sampling is being used if, say, every 200th invoice is examined?

 
 
 
 
 

Question 18 of 20

19. An auditor gives weekly advice to a client on a wide range of matters (financial and non-financial). What sort of threat can this give rise to?

 
 
 
 
 

Question 19 of 20

20. The title of the paragraph that can be inserted in an audit report to draw users’ attention to a note in the financial statements is:  an emphasis of  ***** paragraph

Question 20 of 20

 

Comments

  1. Avatar of Hammad says

    I lost marks because of spelling mistakes. I know this is not going to happen in the exam that is why I’m not going to complain about it on the comments. Damn it, I already did. Oh well :)

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