2025年ACCAF8阶段测试模拟卷.docxVIP

2025年ACCAF8阶段测试模拟卷

考试时间：______分钟总分：______分姓名：______

Question1:

SmithJones,auditors,areplanningtheauditofthefinancialstatementsofBlueCorporationfortheyearended31December2024.BlueCorporationisamedium-sizedcompanyoperatingintheretailsector.Thefollowinginformationrelatestotheauditplanningphase:

(a)SmithJonesidentifythefollowingpotentialauditrisksforBlueCorporationsfinancialstatementsfortheyearended31December2024:

(i)Significantinventoryobsolescence.

(ii)Failuretorecordliabilitiesarisingfrompendinglawsuits.

(iii)Inflatedsalesrevenueduetoimproperrecognitionofrevenuefromlong-termcontracts.

(iv)Misstatementofdepreciationexpenseduetoinappropriateusefullifeestimates.

(b)SmithJonesassessthattheriskofmaterialmisstatementduetofraudishigherthantheriskofmaterialmisstatementduetoerror.

(c)SmithJonesplantouseanalyticalproceduresasaprimarymeansofdetectingmaterialmisstatementinthefinancialstatements.

(d)SmithJonesdecidetorelyontheinternalcontrolsystemtoreducetheextentofsubstantivetestingrequired.Thekeycontrolsidentifiedare:

(i)Authorisationofsalestransactionsbythesalesmanager.

(ii)Physicalsafeguardingofinventorybyadedicatedsecurityguard.

(e)SmithJonesidentifyalimitationonthescopeoftheirauditworkduetounavailabilityofakeypredecessorauditorsworkingpapers.

Required:

(i)Foreachofthepotentialauditrisksidentifiedin(a),brieflydescribeanappropriateauditprocedurethatSmithJonesshouldconsidertoaddressthatrisk.

(ii)ExplainhowSmithJonesshouldrespondtotheassessmentmadein(b)regardingtheriskoffraud.

(iii)EvaluatetheappropriatenessofSmithJonesplantouseanalyticalproceduresasaprimarymeansofdetectionin(c),consideringthenatureoftheauditandtheidentifiedrisks.

(iv)Foreachofthekeycontrolsidentifiedin(d)(ii),evaluatewh