3/19/26, 7:57 AM ACA Assurance EXAM, comprehensive questions and verified answers QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGH…
ACA Assurance EXAM, comprehensive questions
and verified answers QUESTIONS WITH
ACCURATE ANSWERS | GET IT RIGHT |2025\2026!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (94)
5 key elements of audit 1. 3 party involvement
2. subject matter (f/s)
3. suitable criteria (e.g. UK CGC)
4. evidence
5. written report
https://quizlet.com/1157842159/aca-assurance-exam-comprehensive-questions-and-verified-answers-questions-with-accurate-answers-get-it-right-20… 1/15
, 3/19/26, 7:57 AM ACA Assurance EXAM, comprehensive questions and verified answers QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGH…
ISA 200 - what are the objectives of - obtain reasonable assurance f/s are free from
auditors? material misstatement (fraud or error)
- express opinion whether f/s prepared in
accordance w/ financial reporting framework
Exemption from statutory audit - CA 2006 exempts small p. ltd. if 2/3:
-> 50 employees or less
-> turnover £10.2m or less
-> gross assets £5.1m or less
Auditor requirements basic:
- employment by firm controlled by qualified
persons
- CA2006 no officers/employees of company or
partner of above
qualified auditors:
- membership of recognised supervisory body
Money laundering check (client due - req. per. Money Laundering Regulations 2007
diligence) - client id docs retained 5 yrs
ISA 210: mandatory contents of - auditor's and management's responsibilities
engagement letter (6) - scope of work (stat/non-stat)
- form of reports (reasonable/limited)
- written confirmation of firm's acceptance of
engagement
- level of access to books & records (full = audit &
limited = review engagement)
- reporting framework
https://quizlet.com/1157842159/aca-assurance-exam-comprehensive-questions-and-verified-answers-questions-with-accurate-answers-get-it-right-20… 2/15
ACA Assurance EXAM, comprehensive questions
and verified answers QUESTIONS WITH
ACCURATE ANSWERS | GET IT RIGHT |2025\2026!
Save
Practice questions for this set
Learn 1 /7 Study with Learn
Terms in this set (94)
5 key elements of audit 1. 3 party involvement
2. subject matter (f/s)
3. suitable criteria (e.g. UK CGC)
4. evidence
5. written report
https://quizlet.com/1157842159/aca-assurance-exam-comprehensive-questions-and-verified-answers-questions-with-accurate-answers-get-it-right-20… 1/15
, 3/19/26, 7:57 AM ACA Assurance EXAM, comprehensive questions and verified answers QUESTIONS WITH ACCURATE ANSWERS | GET IT RIGH…
ISA 200 - what are the objectives of - obtain reasonable assurance f/s are free from
auditors? material misstatement (fraud or error)
- express opinion whether f/s prepared in
accordance w/ financial reporting framework
Exemption from statutory audit - CA 2006 exempts small p. ltd. if 2/3:
-> 50 employees or less
-> turnover £10.2m or less
-> gross assets £5.1m or less
Auditor requirements basic:
- employment by firm controlled by qualified
persons
- CA2006 no officers/employees of company or
partner of above
qualified auditors:
- membership of recognised supervisory body
Money laundering check (client due - req. per. Money Laundering Regulations 2007
diligence) - client id docs retained 5 yrs
ISA 210: mandatory contents of - auditor's and management's responsibilities
engagement letter (6) - scope of work (stat/non-stat)
- form of reports (reasonable/limited)
- written confirmation of firm's acceptance of
engagement
- level of access to books & records (full = audit &
limited = review engagement)
- reporting framework
https://quizlet.com/1157842159/aca-assurance-exam-comprehensive-questions-and-verified-answers-questions-with-accurate-answers-get-it-right-20… 2/15
