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

Question 1 of 20

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

 
 
 
 
 

Question 2 of 20

3. 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 3 of 20

4. 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 4 of 20

5. There are two types of CAAT (computer assisted audit techniques). One is audit software.

What is the other?

 
 
 
 

Question 5 of 20

6. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 6 of 20

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

 
 
 
 
 
 

Question 7 of 20

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

 
 
 
 

Question 8 of 20

9. 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 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. Do auditors have a duty to detect fraud?

 
 

Question 11 of 20

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

 
 
 
 
 

Question 12 of 20

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

 
 

Question 13 of 20

14. 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 14 of 20

15. Which one of the following pairs of evidence is better?

 
 

Question 15 of 20

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

 
 
 
 

Question 16 of 20

17. Which one of the following is not one of the fundamental principles of professional ethics?

 
 
 
 
 
 

Question 17 of 20

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

 
 
 
 

Question 18 of 20

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

 
 
 
 

Question 19 of 20

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

 
 

Question 20 of 20

 

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