ACCA Audit and Assurance (F8) Practice Exam

When evaluating the work of others, what factor indicates a systematic approach?

1. Level of experience

2. Extent of objectivity.

3. Conformity to standards

4. Frequency of audits conducted

The correct answer is: Conformity to standards

A systematic approach in evaluating the work of others is characterized by adherence to established frameworks and guidelines. Conformity to standards indicates that the work has been carried out according to predetermined criteria set by professional bodies or regulatory requirements. This ensures consistency, reliability, and quality in the audit process. When work conforms to recognized standards, it implies that there is a structured methodology in place that guides the auditor's processes, assessment of evidence, and conclusion drawing. This systematic adherence also helps enhance the credibility of the audit work and the resulting outcomes, as it aligns with best practices in the profession. In contrast, while the level of experience, extent of objectivity, and frequency of audits are important elements in auditing, they do not directly address the structured nature of the evaluation process itself. Experience may inform the judgment of an auditor, objectivity ensures impartiality, and frequency may indicate thoroughness; however, it is the conformity to established standards that most clearly reflects a systematic approach to evaluation.