ACCA考试P8模拟测试题及答案解析

　　Question：K Co, a potential client, has asked P&Co to act as auditor to his company and wants the audit to commence immediately as the financial statements are required by the bank. P&Co's response should be to:

　　A. Accept the assignment subject to written confirmation of appointment by the Board.

　　B. Contact the previous auditors for professional clearance before they start work.

　　C. Inform the previous auditors that they intend to commence work.

　　D. Start work on the audit right away.

　　The correct answer is: Contact the previous auditors for professional clearance before they start work.

　　Regardless of K Co's request for urgency the incoming auditor must always complete professional clearance procedures.

　　Question：Which of the following statements regarding audit committees is not true?

　　A. The role and responsibilities of the audit committee should be set out in written terms of reference.

　　B. Every company must have an audit committee.

　　C. The audit committee must meet every month.

　　D. The audit committee should include at least three non-executive directors.

　　The correct answers are: The audit committee must meet every month; Every company must have an audit committee.

　　解析：The UK Corporate Governance Code recommends that the audit committee should include at least three non-executive directors (two in smaller companies) and that the role and responsibilities should be set out in written terms of reference.

　　There are no requirements for how often the audit committee should meet. Every company does not have to have an audit committee - such a committee may not be feasible in some companies such as small companies, where the costs of establishing and maintaining an audit committee may outweigh the benefits.