ACCA 2026 AA Audit Assurance Fraud Risk Free Quiz 2

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ACCA 2026 AA Audit Assurance Fraud Risk Free Quiz 2

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ACCA 2026 AA Audit Assurance Fraud Risk Free Quiz 2

Practice ACCA 2026 AA Audit Assurance MCQs from Fraud Risk. Get instant results with Explanation.

General10 MCQs

1. Which ISA covers fraud risk?

A. ISA 240 covers the auditor's responsibilities relating to fraudB. ISA 240 covers audit samplingC. ISA 240 covers audit planningD. ISA 240 covers audit evidence

2. What aspects of the entity's environment does the auditor consider for fraud risk?

A. Whistleblowing procedures are not relevant to fraud riskB. The auditor does not consider the internal audit functionC. The auditor only considers management's fraud prevention measuresD. The auditor considers the entity's whistleblowing procedures and internal audit function in assessing fraud risk

3. What is collusion and how does it affect fraud risk?

A. Collusion does not affect the auditor's risk assessmentB. Collusion can undermine controls and is a factor in fraud riskC. Collusion is not relevant to audit evidenceD. Collusion is only relevant for tests of controls

4. What is the communication requirement when fraud is suspected?

A. The auditor does not communicate fraud suspicionsB. The auditor communicates fraud suspicions only to the policeC. The auditor communicates fraud suspicions to management and those charged with governanceD. The auditor communicates fraud suspicions only to the shareholders

5. What are the two main types of fraud?

A. Fraud can be in the form of fraudulent financial reporting or misappropriation of assetsB. Fraud is only about financial reportingC. Fraud is only about misappropriation of assetsD. Fraud is not related to assets

General10 MCQs

6. Why might the auditor use unpredictable procedures?

A. Unpredictable procedures are not necessaryB. Predictable procedures are more effectiveC. The auditor should inform management of all procedures in advanceD. Unpredictable procedures can enhance the auditor's ability to detect fraud

7. How does the auditor evaluate fraud-related controls?

A. Internal controls related to fraud are not testedB. The auditor evaluates the entity's controls related to fraud riskC. The auditor does not rely on internal audit for fraud riskD. Fraud controls are only tested if fraud is suspected

8. How does industry affect fraud risk assessment?

A. Industry risks are not relevant to fraudB. Fraud risks are the same for all industriesC. The auditor considers industry-specific fraud risksD. The auditor only considers entity-specific risks, not industry risks

9. What is the auditor's responsibility when fraud is identified?

A. If the auditor identifies a material fraud, they must assess the impact on the opinion and may have a duty to report to authoritiesB. The auditor does not report fraud to authoritiesC. The auditor ignores fraud if it is immaterialD. The auditor always reports fraud to the police

10. What is the documentation requirement for fraud risk conclusions?

A. Documentation of fraud conclusions is optionalB. The auditor does not document fraud risk conclusionsC. Documentation is only required if fraud is foundD. The auditor must document the fraud risk assessment and the responses to fraud risks

📋 ACCA - Test Online Practice Quizzes

ACCA

Conducting Body: Association of Chartered Certified Accountants

Frequency: Exam Frequency Year Round | Time: 360 Minutes

Negative Marking: No

⚡ Test Pattern (Total: 116 MCQs):

Business and Technology: 46 MCQs
Management Accounting: 35 MCQs
Financial Accounting: 35 MCQs
Corporate and Business Law: 45 MCQs

Merit Formula: -

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