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

 
 
 
 

Question 1 of 20

2. There are two types of audit file, one is current audit file, the other is ****** audit file

Question 2 of 20

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

 
 
 
 

Question 3 of 20

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

 
 
 
 

Question 4 of 20

5. Data held on a computer file and which is relatively permanent and which is referred to many times by programs is known as:

 
 
 
 

Question 5 of 20

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

 
 
 
 
 
 

Question 6 of 20

7. * * * 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 7 of 20

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

 
 
 
 
 

Question 8 of 20

9. If an item is included in year-end inventory but no invoice had been received by year-end, to get cut-off correct, the cost of the item should be:

 
 
 
 
 

Question 9 of 20

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

What word should be in place of * * *?

Question 10 of 20

11. 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 11 of 20

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

 
 
 
 

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. 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 14 of 20

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

 
 
 
 

Question 15 of 20

16. 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 16 of 20

17. 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 17 of 20

18. 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 18 of 20

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

 
 
 
 
 

Question 19 of 20

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

 
 
 
 

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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