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ACCA F8 Audit Test - Questions PDF
ACCA F8 Audit Test - Questions PDF
Question 1
Which of the following is a test of control and which a substantive test?!
ToC ST
20 purchase invoices for expenses amounts are traced to debit
entries in the appropriate nominal ledger accounts.
Expenses are compared to similar expenses in the previous
year.
20 purchase invoices are inspected to see if they had been
stamped ‘Approved for payment’ by the chief accountant
20 cars are inspected to see if they exist
15 Capital expenditure authorisations for purchases over
$1,000 are inspected to see if they have been signed-off by the
finance director
15 capital expenditure invoices are traced to the appropriate
non-current asset and VAT accounts
Depreciation calculations are re-performed by the auditor
10 Records in the fixed asset register are inspected to verify
that they were physically inspected within the last 12 months.
The receipt of goods into the factory is observed to ensure that
deliveries are counted by staff upon receipt
The auditor inspects inventory to see if any appears damaged.
Question 2
Total assets = $10m. !
Question 3
If a preliminary estimation of materiality is $2m, is performance materiality more likely
to be $1m or $3m?!
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Question 4
An internal control system is found not to be operating effectively. !
Question 5
Which three of the following terms are the odd ones out?!
Question 6
The question “Can non-current assets be bought without proper authorisation?” is an
example of:!
(a)! ICQ!
(b)! ICEQ?!
Question 7
What are the preconditions of an audit?!
!
(a)!
!
(b)! !
!
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Question 8
Are the following methods of sampling statistical or non-statistical?!
Statistical Non-statistical
Block sampling
Monetary unit sampling
Random sampling
Haphazard sampling
Question 9
Fill in the blanks:!
Employed by?
Purpose of work?
Question 10
What are the 5 elements of an assurance engagement?!
(a)!
(b)!
(c)!
(d)!
(e)!
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Question 11
Indicate the relevance of the following list of assertions to the audit of account
balances, transactions and events, and presentation and disclosure:!
Question 12
Is the following statement true or false?!
Question 13
What is wrong with the following description of an audit procedure?!
“Inspect the cash book for amounts received after year end in respect of amounts owing at
year end.”!
Question 14
Could a sharp fall in sales after year end be an adjusting event?!
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