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

The other reason is:

 
 
 
 

Question 1 of 20

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

 
 
 
 
 

Question 2 of 20

3. 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 3 of 20

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

 
 
 
 
 

Question 4 of 20

5. For how long after the date of the statement of financial position should going concern be assessed?

 
 
 
 

Question 5 of 20

6. Which one of the following is not one of the financial statement assertions?

 
 
 
 
 
 

Question 6 of 20

7. 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 7 of 20

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

 
 
 
 

Question 8 of 20

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

What is the other?

 
 
 
 

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 sort of ethical threat arises from the auditor auditing financial statements that the auditor also prepared?

 
 
 
 
 

Question 12 of 20

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

 
 
 
 

Question 13 of 20

14. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 14 of 20

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

 
 
 
 

Question 15 of 20

16. Is the following true or false?

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

 
 

Question 16 of 20

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

Question 17 of 20

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

Question 18 of 20

19. 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 19 of 20

20. 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 20 of 20

 

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