CFC EQT Auditoria e Perícia Practice Questions - CFC Exame de Qualificação Técnica - Auditoria e Perícia (CNAI e CNPC) Exam - CFC EQT Auditoria e Perícia Practice Questions - CFC Exame de Qualificação Técnica

Question 1

Under NBC TA 200 (R1) / ISA 200, what is the primary overall objective of the independent auditor when conducting an audit of financial statements?

To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, enabling the auditor to express an opinion. To detect and report all instances of non-compliance with statutory tax laws directly to federal regulatory authorities and prosecutors. To assume direct operational responsibility for the preparation, internal control design, and fair presentation of the entity's accounting records. To obtain absolute assurance that the financial statements are completely free from all immaterial and material errors, guaranteeing future corporate solvency.

Correct Answer:

To obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, enabling the auditor to express an opinion.

Question 2

In accordance with NBC PA 01 (ISQM 1 - Gestão da Qualidade para Firmas de Auditoria), how frequently must an audit firm perform an annual evaluation of its system of quality management (SoQM)?

Only when a material audit deficiency or regulatory sanction is formally issued by the CFC or CVM. At least annually, as evaluated by the individual(s) assigned ultimate responsibility and accountability for the firm's system of quality management. Every six months, submitted directly to the Conselho Federal de Contabilidade (CFC) for formal administrative approval. Every three years to coincide with the mandatory CVM external peer review (Revisão Externa pelos Pares - NBC PA 11).

Correct Answer:

At least annually, as evaluated by the individual(s) assigned ultimate responsibility and accountability for the firm's system of quality management.

Question 3

Under NBC TA 210 (R1) (Concordância com os Termos do Trabalho de Auditoria), what must the independent auditor do if management imposes a scope limitation prior to engagement acceptance such that the auditor believes the limitation will result in a disclaimer of opinion?

Convert the engagement into a judicial forensic accounting investigation (Perícia Judicial) under NBC TP 01. Accept the engagement and immediately issue an adverse opinion with an Emphasis of Matter paragraph. The auditor shall not accept such a limited engagement as an audit engagement, unless required by law or regulation to do so. Accept the engagement provided management agrees to triple the agreed audit fees and waive liability.

Correct Answer:

The auditor shall not accept such a limited engagement as an audit engagement, unless required by law or regulation to do so.

Question 4

According to NBC TA 230 (R1) (Documentação de Auditoria), what is the standard assembly retention period for the final audit file (arquivo final de auditoria), and what is the maximum time allowed to complete final assembly after the date of the auditor's report?

Assembly within 15 days of the report date; retention for exactly 10 years under CPC/2015 forensic rules. Assembly on the exact date of the report; retention indefinitely until the audited entity is formally dissolved. Assembly within 120 days of the report date; retention for at least 2 years under the Brazilian Commercial Code. Assembly within 60 days of the report date; retention for not less than 5 years from the date of the auditor's report.

Correct Answer:

Assembly within 60 days of the report date; retention for not less than 5 years from the date of the auditor's report.

Question 5

Under NBC TA 240 (R1) (Fraude no Âmbito da Auditoria de Demonstrações Contábeis), which of the following is a mandatory presumed risk of material misstatement due to fraud that the auditor must treat as a significant risk?

The risk of improper revenue recognition and the risk of management override of controls. The risk that cash discounts on minor administrative purchases are recorded in the wrong month. The risk that an external legal advisor will fail to provide a confirmation letter within 5 business days. The risk that operational staff will incorrectly calculate straight-line depreciation of office equipment.

Correct Answer:

The risk of improper revenue recognition and the risk of management override of controls.

Question 1

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Prepare with the CFC EQT Auditoria e Perícia Practice Questions - CFC Exame de Qualificação Técnica - Auditoria e Perícia (CNAI e CNPC) Exam practice quiz. This question bank includes 100 questions covering auditor, cont, perito, auditoria, and audit. Use it to review important concepts, identify knowledge gaps, and build confidence for the related exam, course, or assessment.

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CFC EQT Auditoria e Perícia Practice Questions - CFC Exame de Qualificação Técnica - Auditoria e Perícia (CNAI e CNPC) Exam

This practice set contains 100 questions from the matching question bank and focuses on auditor, cont, perito, auditoria, and audit. Work through each question carefully, review the provided solutions, and revisit topics that need more study before your next attempt.

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CFC EQT Auditoria e Perícia Practice Questions - CFC Exame de Qualificação Técnica - Auditoria e Perícia (CNAI e CNPC) Exam

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