ACCA F8 Revision Quiz

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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 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 1 of 20

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

 
 
 
 

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. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 4 of 20

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

 
 
 
 
 
 

Question 5 of 20

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

 
 
 
 

Question 6 of 20

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

 
 
 
 

Question 7 of 20

8. 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 8 of 20

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

 
 
 
 

Question 9 of 20

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

Question 10 of 20

11. Is the following true or false?

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

 
 

Question 11 of 20

12. 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 12 of 20

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

 
 
 
 

Question 13 of 20

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

 
 
 
 
 

Question 14 of 20

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

 
 
 
 
 

Question 15 of 20

16. As more items are examined in the sample, sampling risk…..

 
 

Question 16 of 20

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

 
 
 
 
 

Question 17 of 20

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

Question 18 of 20

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

 
 
 
 
 

Question 19 of 20

20. 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 20 of 20

 

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