Certified Accounting Technician Examination Advanced Level

Implementing Audit Procedures (International Stream)
Monday 14 June 2010

Time allowed Reading and planning: Writing:

15 minutes 3 hours

This paper is divided into two sections: Section A – ALL TEN questions are compulsory and MUST be attempted Section B – ALL FOUR questions are compulsory and MUST be attempted Do NOT open this paper until instructed by the supervisor. During reading and planning time only the question paper may be annotated. You must NOT write in your answer booklet until instructed by the supervisor. This question paper must not be removed from the examination hall.

The Association of Chartered Certified Accountants

Paper T8 (INT)

Section A – ALL TEN questions are compulsory and MUST be attempted Please use the space provided on the inside cover of the Candidate Answer Booklet to indicate your chosen answer to each multiple choice question. Each question in this section is worth 2 marks. 1 Which of the following is NOT a statutory right of the auditors of a limited liability company? A B C D A right of access at all times to the company’s books and records. A right to attend all directors’ meetings. A right to speak at general meetings on any matter that concerns them as auditors. A right to attend any general meeting.

2

What is the PRIMARY purpose of an auditor taking action to evaluate and test the internal controls of a limited liability company? A B C D To enable the auditor to advise management of the strengths and weaknesses in the internal controls. To enable the auditor to eliminate analytical review procedures. To provide the auditor with the opportunity to reduce substantive procedures. To enable the auditor to restrict substantive procedures to income statement items only.

3

‘Audit risk’ is the risk that the auditor expresses an inappropriate