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 being a close friend of the financial director of the company being audited?

 
 
 
 
 

Question 1 of 20

2. What sort of ethical threat can arise from overdue fees?

 
 
 
 
 

Question 2 of 20

3. Which one of the following pairs of evidence is better?

 
 

Question 3 of 20

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

Question 4 of 20

5. 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 5 of 20

6. Is the following statement true or false?

“An emphasis of matter paragraph included in an audit report means that the audit opinion is modified”

 
 

Question 6 of 20

7. Is the following true or false?

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

 
 

Question 7 of 20

8. Which one of the following is not one of the fundamental principles of professional ethics?

 
 
 
 
 
 

Question 8 of 20

9. 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 9 of 20

10. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 10 of 20

11. What quality the auditor should NOT look for in third parties who are carrying out some audit work?

 
 
 
 

Question 11 of 20

12. * * * 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 12 of 20

13. Audit reports can be qualified for two reasons. On reason is inability to collect sufficient appropriate audit evidence.

The other reason is:

 
 
 
 

Question 13 of 20

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

 
 
 
 

Question 14 of 20

15. A common element of analytical procedures is ***** analysis

Question 15 of 20

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

 
 
 

Question 16 of 20

17. ISA500 states that auditors must obtain ***** ***** audit evidence to be able to draw reasonable conclusions on which to base an audit opinion.

What words are represented by ***** ***** ?

Question 17 of 20

18. * * * of duties implies that a number of people are involved in an accounting process or transaction.

What word should be in place of * * *?

Question 18 of 20

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

 
 
 
 

Question 19 of 20

20. 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 20 of 20