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


Question 1 of 20

2. What aspects of a client’s undertaking do computer audit programs examine?


Question 2 of 20

3. 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 3 of 20

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

Question 4 of 20

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

What word should be in place of * * *?

Question 5 of 20

6. Which one of the following pairs of evidence is better? Indirect evidence v auditor-direct


Question 6 of 20

7. What is a NED?


Question 7 of 20

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


Question 8 of 20

9. 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 9 of 20

10. Which one of the following is not one of the financial statement assertions?


Question 10 of 20

11. What word should be in place of * * *? A matter is material if its omission or misstatement would reasonably affect the * * * of an addressee of the auditors’ report.

Question 11 of 20

12. 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 12 of 20

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


Question 13 of 20

14. An audit is the **** examination of, and expression of opinion on, the financial statements of an entity.

Question 14 of 20

15. 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 15 of 20

16. Which one of the following is NOT part of the five main principles of the UK Corporate Governance Code?


Question 16 of 20

17. 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 17 of 20

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


Question 18 of 20

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


Question 19 of 20

20. * * * 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 20 of 20



  1. Profile photo 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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