Page

130

387

Question

27

Mock
Exam 3
Q1

MCQ answer 24

MCQ answer 28

Answer ref

The answer to part (a), based on the original ACCA official answers, makes reference to the FRC Ethical Standards in
discussing the need to rotate engagement partners on the audit of listed entities every five years. ACCA has since confirmed
that the examinable document for F8 is the ACCA Code of Ethics and Conduct. Consequently, the official answer and
question in the Specimen Paper will be modified to reflect the 7 year rule as per the IESBA/ACCA guidance. However, if a
student were to stipulate 5 years based on ES3 this would not be marked as incorrect.

The correct answer to Question 27 (MCQ number 24, see page 21 for the Question) in the ACCA F8 Practice and Revision Kit
should be B, not D. The narrative debrief relating to this question remains correct.

The question asks for two independence threats which would arise should an auditing firm accept a non-assurance
engagement. Only one independence threat should have been required.

Details of error and changes to be made

Errata sheet: November 2014

Revision Kit Eighth edition June 2014

ACCA F8

F8 Audit and Assurance | Errata