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Fachprüfung für Steuerberater (Austria)

Practice Questions100 questions

2026 Statistics

Key Facts: Fachprüfung Wirtschaftsprüfer Exam

100

Practice Questions

OpenExamPrep

3 Years

Practical Candidate Experience (Min. 2 Years in Audits)

WTBG 2017 § 13

7 Years

Mandatory Audit Partner Rotation for PIEs

VO (EU) Nr. 537/2014 & UGB

ISA

International Standards on Auditing Applied in Austria

KSW Fachgutachten KFS/PG

APAB

Independent Statutory Auditor Oversight Authority

Abschlussprüfer-Aufsichtsgesetz

70% Fee Cap

Non-Audit Service Fee Cap for PIE Audits

VO (EU) Nr. 537/2014

The Austrian Fachprüfung für Wirtschaftsprüfer is the statutory public auditor credential in Austria administered by the KSW under WTBG 2017. Requiring an academic degree and 3 years of practical training (with at least 2 years in statutory audits), the examination comprises 4 written papers and an oral commission covering ISA auditing standards, UGB/IFRS consolidation, APAG regulation, auditor independence (§§ 271–271c UGB), and CSRD sustainability assurance. This practice bank provides 100 rigorous multiple-choice questions with detailed explanations.

Sample Fachprüfung Wirtschaftsprüfer Practice Questions

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1Under International Standard on Auditing (ISA) 200 and § 269 of the Austrian Commercial Code (UGB), what is the overall objective of the statutory auditor in conducting a financial statement audit?

A.To obtain reasonable assurance (hinreichende Sicherheit) 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 independent audit opinion

B.To guarantee 100% absolute assurance that every individual transaction and euro in the accounts is mathematically error-free

C.To directly manage the audited company's day-to-day accounting department and prepare tax returns

D.To act as a state criminal prosecutor with powers to arrest corporate executives

Explanation: Under ISA 200.11 and § 269 UGB, the auditor's objective is to obtain reasonable assurance (which is a high, but not absolute, level of assurance) that the annual or consolidated financial statements comply with statutory Austrian GAAP (UGB) or IFRS and are free from material misstatements.

2Under ISA 315 (Revised) and Austrian auditing standards (KFS/PG 1), what is the purpose of the auditor's Risk Assessment Procedures?

A.To identify and assess the Risks of Material Misstatement (RoMM) at both the financial statement level and assertion level (Aussageebene) through understanding the entity, its environment, and its internal control system

B.To determine how many advertising billboards the company should purchase

C.To set the retail prices of the company's consumer goods

D.To calculate the personal income tax rate of the supervisory board chairman

Explanation: Under ISA 315 (Revised), the auditor must identify and assess risks of material misstatement at the financial statement and assertion levels (completeness, existence, valuation, accuracy, cutoff, classification) to design responsive further audit procedures (ISA 330).

3Under ISA 320, how does the auditor determine Planning Materiality (Gesamtwesentlichkeit), Performance Materiality (Toleranzwesentlichkeit), and the Clearly Trivial Threshold (Nichtaufgriffsgrenze)?

A.Planning Materiality is set using a percentage of a chosen benchmark (e.g. 0.5%–1% of revenue or 5% of profit before tax); Performance Materiality is set lower (e.g. 60%–75% of planning materiality) to reduce aggregation risk; Clearly Trivial is set at 3%–5% of planning materiality

B.All three thresholds must be set at exactly €100 for all companies in Austria

C.Materiality is set at 50% of total balance sheet equity in every audit

D.Auditors are prohibited from calculating mathematical materiality under Austrian law

Explanation: Under ISA 320 and ISA 450, Planning Materiality is benchmarked to financial metrics. Performance Materiality (Toleranzwesentlichkeit) is set lower (typically 50%–75%) to buffer against the risk that uncorrected small misstatements aggregate to a material level. Trivial errors (Nichtaufgriffsgrenze, typically 3%–5%) need not be accumulated on the misstatement schedule.

4An audited Austrian corporation reports Profit Before Tax (EBT) of €10,000,000 and Total Revenue of €120,000,000. The auditor sets Planning Materiality at 5% of EBT (€500,000). If Performance Materiality is set at 70% and the Clearly Trivial Threshold at 4%, what are the respective amounts?

A.Performance Materiality = €350,000; Clearly Trivial Threshold = €20,000

B.Performance Materiality = €500,000; Clearly Trivial Threshold = €50,000

C.Performance Materiality = €700,000; Clearly Trivial Threshold = €40,000

D.Performance Materiality = €100,000; Clearly Trivial Threshold = €5,000

Explanation: Performance Materiality = €500,000 × 70% = €350,000. Clearly Trivial Threshold (Nichtaufgriffsgrenze) = €500,000 × 4% = €20,000.

5Under ISA 240 (The Auditor's Responsibilities Relating to Fraud in an Audit of Financial Statements), what mandatory fraud risk presumptions must the auditor apply?

A.A rebuttable presumption that there are risks of fraud in Revenue Recognition, and a non-rebuttable risk that management can override internal controls (Management Override of Controls)

B.A presumption that all corporate employees are committing petty theft

C.A presumption that suppliers are paying secret kickbacks on 100% of purchase orders

D.There are no fraud presumptions in professional auditing standards

Explanation: Under ISA 240.26 and ISA 240.31, the auditor must treat revenue recognition as an inherent fraud risk (unless specifically rebutted and documented) and must treat management override of controls as a significant risk in every audit, requiring mandatory journal entry testing and review of accounting estimates.

6Under ISA 330, what is the fundamental difference between Tests of Controls (Funktionsprüfungen) and Substantive Procedures (Aussagebezogene Prüfungshandlungen)?

A.Tests of controls evaluate the operating effectiveness of internal controls in preventing or detecting material misstatements; substantive procedures detect material misstatements directly at the assertion level through tests of details and analytical procedures

B.Tests of controls are performed only after the audit report is signed

C.Substantive procedures apply exclusively to marketing presentations

D.Both procedures are identical and cannot be combined in an audit

Explanation: Under ISA 330, tests of controls assess whether internal controls operated effectively throughout the period (justifying a reduced assessment of control risk). Substantive procedures (tests of details and substantive analytical procedures) directly test balances and transactions.

7Under ISA 505 (External Confirmations), what are the procedural requirements when conducting accounts receivable bank and debtor circularization (Saldenbestätigungen)?

A.The auditor must maintain direct control over the confirmation requests, including selecting sample items, preparing requests, sending them directly, and receiving responses directly from third parties

B.The audited client's management may collect all responses, open the envelopes, and edit the figures before showing them to the auditor

C.Confirmation requests can only be made verbally over informal telephone calls

D.External confirmations are prohibited under Austrian privacy law

Explanation: Under ISA 505.7, the auditor must maintain strict direct control over external confirmation requests (mailing directly and ensuring direct return to the audit firm) to prevent management interception or alteration.

8Under ISA 501, what are the auditor's mandatory procedures regarding the physical inventory count (Inventurbeobachtung)?

A.If inventory is material, the auditor must attend the physical inventory count to evaluate management's instructions, observe count procedures, inspect inventory condition, and perform test counts (Stichproben)

B.The auditor must count 100% of every item personally without company staff present

C.Physical inventory attendance is entirely optional and can always be replaced by a telephone call

D.The auditor is required to physically sell the inventory to warehouse staff

Explanation: Under ISA 501.4, where inventory is material to the financial statements, attending physical inventory counts is mandatory (unless practically impracticable) to obtain audit evidence regarding existence and condition of inventories.

9Under ISA 520 (Analytical Procedures), what is the function of substantive analytical procedures (analytische Prüfungshandlungen)?

A.Evaluating financial information through analysis of plausible relationships among financial and non-financial data (e.g. ratio analysis, trend comparisons, plausibility models) to detect unexpected fluctuations or variances

B.Counting physical coins in the cash register

C.Reading the personal diaries of the company board

D.Auditing the company's heating system energy efficiency

Explanation: Under ISA 520, substantive analytical procedures involve developing an independent expectation and comparing recorded amounts/ratios against expectations to identify significant deviations requiring detailed investigation.

10Under ISA 530 (Audit Sampling), what is the difference between Statistical Sampling and Non-Statistical Sampling?

A.Statistical sampling involves random selection of sample items and the use of probability theory to evaluate sample results and quantify sampling risk mathematically; non-statistical sampling relies on auditor professional judgment

B.Statistical sampling is prohibited under Austrian auditing standards

C.Non-statistical sampling guarantees 100% mathematical precision

D.Statistical sampling can only be used if the population has fewer than 10 items

Explanation: Under ISA 530.5, statistical sampling uses random selection and mathematical probability (e.g. Monetary Unit Sampling - MUS) to measure sampling risk, whereas non-statistical sampling uses judgmental selection without formal statistical risk quantification.

About the Fachprüfung Wirtschaftsprüfer Exam

The Fachprüfung für Wirtschaftsprüfer is the statutory qualification examination for certified public auditors in Austria, governed by the Wirtschaftstreuhandberufsgesetz 2017 (WTBG 2017) and administered by the Kammer der Steuerberater und Wirtschaftsprüfer (KSW). It entitles successful candidates to public appointment as a Wirtschaftsprüfer:in authorized to sign statutory audit reports (Bestätigungsvermerke) on annual and consolidated financial statements of Austrian corporations. The exam tests comprehensive knowledge of International Standards on Auditing (ISA), Austrian GAAP (UGB §§ 244–276), IFRS, statutory auditor independence rules, APAB oversight, and corporate governance. This practice bank provides 100 research-based study questions in English.

Assessment

Four written exams under WTBG 2017: (1) Betriebswirtschaftslehre, (2) Rechnungslegung und externe Finanzberichterstattung, (3) Rechtslehre, and (4) Abschlussprüfung (Teilklausur 1 & Teilklausur 2), followed by a comprehensive oral board examination before the KSW commission.

Time Limit

Each of the Klausuren Betriebswirtschaftslehre, Rechnungslegung und externe Finanzberichterstattung and Rechtslehre allows three hours of working time plus 30 minutes of buffer time. The fourth subject (Abschlussprüfung for the WP Befugnis) consists of two Teilklausuren that may be sat and passed separately. All Klausuren are administered digitally via the WISEflow platform. The oral part follows once the entire written part has been passed.

Passing Score

Austrian grading scale (1 to 5); all written papers and the oral commission exam must achieve at least Genügend (grade 4).

Exam Fee

A Prüfungsgebühr is levied under § 19 WTBG 2017 and invoiced by the KSW directly to the candidate (it cannot be billed to an employer). Separate fees apply to repeat attempts at individual Klausuren and at the oral part. The KSW does not publish a public fee schedule — confirm current amounts with the KSW Prüfungsabteilung when applying. (Kammer der Steuerberater und Wirtschaftsprüfer (KSW))

Fachprüfung Wirtschaftsprüfer Exam Content Outline

35%

Audit Methodology, ISA & Assurance Standards (Abschlussprüfung, ISA & KFS/PG)

International Standards on Auditing (ISA 200–700), audit planning (ISA 300), risk assessment (ISA 315), audit materiality (ISA 320/450), audit sampling (ISA 530), fraud risks (ISA 240), going concern (ISA 570), and audit opinion formulation (§§ 273, 274 UGB)

25%

Consolidated Financial Statements, IFRS & Sustainability (Konzernrechnungslegung, IFRS & NaBeG)

UGB group consolidation (§§ 244–267: capital consolidation, intercompany profit elimination, equity method), IFRS standards (IFRS 3, 10, 15, 16, IAS 36), and CSRD sustainability assurance under ESRS

20%

Professional Ethics, Independence & Quality Management (Berufsrecht, APAG & ISQM)

Auditor independence (§§ 271–271c UGB, cooling-off periods, non-audit service fee caps), Auditor Oversight Act (APAG / APAB supervision), Quality Management Standards (ISQM 1, ISQM 2, KFS/Q 1), and WTBG 2017 liability rules

10%

Corporate Law, Governance & Special Audits (Rechtslehre, AktG & Sonderprüfungen)

Stock Corporation Act (AktG: supervisory board, audit committee § 92 Abs. 4a AktG), GmbHG, capital maintenance rules (Verbot der Einlagenrückgewähr § 52 AktG / § 82 GmbHG), and statutory special audits (mergers, spin-offs, contributions in kind)

10%

Management, Internal Control Systems & IT Audit (BWL, IKS & IT-Systemprüfung)

COSO internal control framework, IT General Controls (ITGC), automated application controls, business valuation under KFS/BW 1 (DCF and capitalized earnings methods), and financial risk management

How to Pass the Fachprüfung Wirtschaftsprüfer Exam

What You Need to Know

Passing score: Austrian grading scale (1 to 5); all written papers and the oral commission exam must achieve at least Genügend (grade 4).
Assessment: Four written exams under WTBG 2017: (1) Betriebswirtschaftslehre, (2) Rechnungslegung und externe Finanzberichterstattung, (3) Rechtslehre, and (4) Abschlussprüfung (Teilklausur 1 & Teilklausur 2), followed by a comprehensive oral board examination before the KSW commission.
Time limit: Each of the Klausuren Betriebswirtschaftslehre, Rechnungslegung und externe Finanzberichterstattung and Rechtslehre allows three hours of working time plus 30 minutes of buffer time. The fourth subject (Abschlussprüfung for the WP Befugnis) consists of two Teilklausuren that may be sat and passed separately. All Klausuren are administered digitally via the WISEflow platform. The oral part follows once the entire written part has been passed.
Exam fee: A Prüfungsgebühr is levied under § 19 WTBG 2017 and invoiced by the KSW directly to the candidate (it cannot be billed to an employer). Separate fees apply to repeat attempts at individual Klausuren and at the oral part. The KSW does not publish a public fee schedule — confirm current amounts with the KSW Prüfungsabteilung when applying.

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Fachprüfung Wirtschaftsprüfer Study Tips from Top Performers

1Master ISA 315 and ISA 330: understand how the auditor identifies and assesses risks of material misstatement at the financial statement and assertion levels and designs responsive test of controls and substantive audit procedures.

2Know the calculation and application of Planning Materiality (Gesamtwesentlichkeit), Performance Materiality (Toleranzwesentlichkeit), and the Clearly Trivial Threshold (Nichtaufgriffsgrenze) under ISA 320 and ISA 450.

3Understand the statutory audit threshold for Austrian corporations under § 268 UGB: all medium and large capital companies as well as all AGs (unless small AG without supervisory board duty) require a mandatory statutory audit.

4Review the consolidation techniques under UGB §§ 244–267: purchase method (Erwerbsmethode), goodwill treatment, elimination of intercompany balances and profits, and equity method accounting.

5Learn the auditor's duties regarding fraud detection under ISA 240, including mandatory presumption of fraud risks in revenue recognition and management override of controls.

Frequently Asked Questions

What is the Austrian Fachprüfung für Wirtschaftsprüfer?

It is the statutory professional qualification examination administered by the Kammer der Steuerberater und Wirtschaftsprüfer (KSW) under the WTBG 2017, qualifying successful candidates for appointment as certified statutory auditors (Wirtschaftsprüfer:innen) in Austria.

What independence rules govern statutory auditors in Austria?

Auditor independence is strictly codified in §§ 271 to 271c of the Austrian Commercial Code (UGB) and EU Regulation 537/2014 for Public Interest Entities (PIEs). Prohibitions include holding financial interests, performing prohibited non-audit services (certain tax and valuation services), exceeding fee caps, and mandatory audit partner rotation after 7 years.

What types of audit opinions exist under Austrian law?

Under §§ 273–274 UGB and ISA 700/705, the auditor can issue: (1) an Unqualified Opinion (uneingeschränkter Bestätigungsvermerk), (2) a Qualified Opinion (eingeschränkter Bestätigungsvermerk) for material but not pervasive misstatements, (3) an Adverse Opinion (Versagungsvermerk / negatives Prüfungsurteil) for material and pervasive misstatements, or (4) a Disclaimer of Opinion (Nichtabgabe des Prüfungsurteils) where insufficient audit evidence can be obtained.

What role does the APAB play in Austrian auditing?

The APAB (Abschlussprüferaufsichtsbehörde) is the independent state supervisory authority for statutory auditors in Austria, responsible for public oversight, conducting recurring quality assurance inspections, and investigating professional misconduct.