小伙伴们，acca考试题库来啦!很多想要报考acca考试的考生，不知道该如何准备全英文考试，中公财经小编为大家收集的acca F8科目第一章练习题及模拟题，帮助大家更好学习acca，早日拿下acca证书。
THE FOLLOWING SCENARIO RELATES TO QUESTIONS 1-5
You are an audit manager of Satsuma & Co and have been assigned to the audit of Tangerine Tech Co (Tangerine), a company which is planning to list on a stock exchange within six months.
The listing rules of the stock exchange require compliance with corporate governance principles, and the directors are unsure whether they are following best practice in relation to this. They have asked the audit engagement partner for their view on this matter.
Tangerine’s board is comprised of six executive directors, a non-executive chairman and three other non-executive directors (NEDs).
The chairman and one of the NEDS are former directors of Tangerine and on reaching retirement age were asked to take on non-executive roles.
The company has established an audit committee, and all NEDs are members including the chairman who chairs the committee. All four members of the audit committee were previously involved in sales or production related roles.
All of the directors have been members of the board for at least four years. As the chairman does not have an executive role, he has sole responsibility for liaising with the shareholders and answering their questions. The company has not established an internal audit function to monitor internal controls.
5.The board of Tangerine is considering establishing an internal audit function.
Which of the following factors would be relevant in making this decision?
(1) It would help the audit committee to discharge its responsibilities for monitoring internal control
(2) The board would no longer need to take responsibility for the prevention and detection of fraud and error
(3) The costs of establishing an internal audit function should be considered against the benefits gained
A.1 and 2 only
B.1 and 3 only
C.2 and 3 only
D.1, 2 and 3
