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

Question 1 of 20

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

 
 
 
 
 

Question 2 of 20

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

 
 

Question 3 of 20

4. What is a NED?

 
 
 
 

Question 4 of 20

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

 
 

Question 5 of 20

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

 
 
 
 
 
 

Question 6 of 20

7. 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 7 of 20

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

 
 
 
 
 

Question 8 of 20

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

Question 9 of 20

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

 
 
 

Question 10 of 20

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

 
 
 
 
 

Question 11 of 20

12. 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 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. * * * 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 14 of 20

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

 
 
 
 
 
 

Question 15 of 20

16. Here is an excerpt from an audit report, what word should replace * * *?

“We planned and conducted our audit to obtain * * * assurance that the financial statements are free from material misstatement”

Question 16 of 20

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

The other reason is:

 
 
 
 

Question 17 of 20

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

 
 
 
 

Question 18 of 20

19. There are two types of CAAT (computer assisted audit techniques). One is audit software.

What is the other?

 
 
 
 

Question 19 of 20

20. 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 20 of 20

 

Comments

  1. avatar says

    Excellent test especially for revision purposes and cover most examinable topics. Well done Open Tuition!
    I scored 85% and I hope this will augur well for the exam day.
    Thank you for your support – these are extremely useful tests.

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