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

 
 

Question 1 of 20

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

Question 2 of 20

3. 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 3 of 20

4. Which one of the following pair of evidence is better?

 
 

Question 4 of 20

5. 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 5 of 20

6. 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 6 of 20

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

 
 
 
 
 

Question 7 of 20

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

Question 8 of 20

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

 
 
 
 
 
 

Question 9 of 20

10. 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 10 of 20

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

The other reason is:

 
 
 
 

Question 11 of 20

12. 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 12 of 20

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

 
 
 
 

Question 13 of 20

14. 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 14 of 20

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

 
 
 
 

Question 15 of 20

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

 
 
 
 

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. When the audit firm changes, the proposed new auditor should contact the retiring auditor. If the client refuses permission for communication to take place, what should the proposed new auditor do?

 
 
 
 
 

Question 18 of 20

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

 
 

Question 19 of 20

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

 
 
 
 

Question 20 of 20

 

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