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. Who sets the International Standards on Auditing?

 
 
 
 
 

Question 1 of 20

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

 
 

Question 2 of 20

3. * * * 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 3 of 20

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

 
 
 
 
 
 

Question 4 of 20

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

 
 
 
 

Question 5 of 20

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

Question 6 of 20

7. 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 7 of 20

8. 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 8 of 20

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

 
 
 
 
 
 

Question 9 of 20

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

 
 
 
 
 

Question 10 of 20

11. What is the correct treatment of a contingent asset where the inflow of economic benefits is not probable?

 
 
 

Question 11 of 20

12. 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 12 of 20

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

 
 
 
 

Question 13 of 20

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

 
 
 
 
 

Question 14 of 20

15. What range of percentage of profit is often taken as guidance for materiality?

 
 
 

Question 15 of 20

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

 
 
 
 

Question 16 of 20

17. 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 17 of 20

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

 
 
 
 
 

Question 18 of 20

19. 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 19 of 20

20. 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 20 of 20

 

Comments

Leave a Reply