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 another name for a reasonable assurance engagement?

 
 
 
 

Question 1 of 20

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

 
 
 
 
 

Question 2 of 20

3. For how long after the date of the statement of financial position should going concern be assessed?

 
 
 
 

Question 3 of 20

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

What word should be in place of * * *?

Question 6 of 20

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

 
 
 
 

Question 7 of 20

8. Do auditors have a duty to detect fraud?

 
 

Question 8 of 20

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

Question 9 of 20

10. 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 10 of 20

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

 
 
 
 
 

Question 11 of 20

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

 
 
 
 

Question 12 of 20

13. 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 13 of 20

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

 
 
 
 
 

Question 14 of 20

15. What is the proper treatment of a contingent liability where there is a possible obligation or a present obligation that may, but will probably not lead to an outflow of assets?

 
 
 

Question 15 of 20

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

 
 
 
 
 

Question 16 of 20

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

 
 
 
 

Question 17 of 20

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

The other reason is:

 
 
 
 

Question 18 of 20

19. Is the following true or false?

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

 
 

Question 19 of 20

20. Who sets the International Standards on Auditing?

 
 
 
 
 

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.

Leave a Reply