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

 
 
 
 

Question 2 of 20

3. Is the following true or false?

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

 
 

Question 3 of 20

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

 
 

Question 4 of 20

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

 
 
 
 
 

Question 5 of 20

6. 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 6 of 20

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

 
 
 
 
 

Question 7 of 20

8. 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 8 of 20

9. What sort of ethical threat arises from the auditor being a close friend of the financial director of the company being audited?

 
 
 
 
 

Question 9 of 20

10. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 10 of 20

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

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

Question 13 of 20

14. 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 14 of 20

15. 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 15 of 20

16. In what type of document would the following sentence be typically found?

“We have no plans or intentions that might materially affect the carrying value or classification of assets and liabilities reflected in the financial statements”

 
 
 
 

Question 16 of 20

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

 
 
 
 
 

Question 17 of 20

18. What is a NED?

 
 
 
 

Question 18 of 20

19. Do auditors have a duty to detect fraud?

 
 

Question 19 of 20

20. The public may perceive that a member’s objectivity is likely to be in jeopardy where fees….. exceed X%… Where the entity is listed or a public interest company, this figure should be Y%.

 
 
 
 
 
 

Question 20 of 20

 

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