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Explore More Mozambique OCAM Professional Accounting and Auditing Admission Examinations (Ordem dos Contabilistas e Auditores de Moçambique)

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Exame de Admissão ao Colégio dos Contabilistas Certificados — OCAM (Mozambique)

Practice Questions
Exam Review

Key Facts: OCAM Auditores Exam

12 modules

Modules in OCAM's preparation course, each assessed by a written test

OCAM course brochure, V edition (2022)

292 hours

Total teaching hours across the 12 modules

OCAM course brochure, V edition (2022)

3 years

Professional internship required for admission to the college

Resolução n.º 15/GB/2017, Article 9

21,000 MT

Fee to re-sit a failed module in the next edition

OCAM course brochure, V edition (2022)

Art. 149(3)

Commercial Code rule requiring an auditor of accounts on the Conselho Fiscal or as Fiscal Único

Código Comercial, Decreto-Lei n.º 1/2022

24 Nov 2021

Date of the OCAM–OROC reciprocity memorandum for auditors

OROC internal procedures for the OCAM | OROC agreement

To join OCAM's Colégio dos Auditores Certificados, candidates need a positive classification in written tests for all 12 modules of OCAM's preparation course, run with Portugal's OROC, and a three-year professional internship. These independent English questions help candidates study the audit, reporting, ethics, law, tax and quantitative topics of those modules.

Sample OCAM Auditores Practice Questions

Try these sample questions to review concepts for the OCAM Auditores exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 108+ question experience with AI tutoring.

1Under ISA 200 (Overall Objectives of the Independent Auditor), what level of assurance is the auditor required to obtain that the financial statements as a whole are free from material misstatement?
A.Absolute assurance that no errors exist in the accounts
B.Reasonable assurance, which is a high, but not absolute, level of assurance
C.Limited assurance based primarily on inquiry and analytical procedures
D.Negative assurance stating that nothing has come to the auditor's attention
Explanation: ISA 200 states that the auditor must obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error. Reasonable assurance is a high level of assurance, but it is not absolute because there are inherent limitations of an audit.
2Under ISA 315 (Revised 2019), how do inherent risk and control risk relate to the risk of material misstatement at the assertion level?
A.Control risk is always set to zero when auditing financial statement disclosures
B.Inherent risk and control risk are combined to form the risk of material misstatement (RMM) at the assertion level
C.Control risk is assessed first and eliminates the need to consider inherent risk
D.Inherent risk is controlled directly by the auditor through substantive sampling
Explanation: Under ISA 315, the risk of material misstatement (RMM) at the assertion level consists of two components: inherent risk (the susceptibility of an assertion to misstatement before consideration of any related controls) and control risk (the risk that a misstatement will not be prevented, or detected and corrected, on a timely basis by the entity's internal control).
3An auditor sets materiality for the financial statements as a whole at 1,000,000 MT. Under ISA 320, how should performance materiality (materialidade de execução) be set?
A.Equal to the 'clearly trivial' threshold used to accumulate misstatements
B.Equal to materiality for the financial statements as a whole, since no lower amount is needed
C.Higher than planning materiality, usually at 150%, to allow for larger sampling tolerances
D.At an amount below overall materiality, to reduce to an appropriately low level the probability that uncorrected and undetected misstatements together exceed overall materiality
Explanation: ISA 320 defines performance materiality as the amount (or amounts) set by the auditor at less than materiality for the financial statements as a whole, to reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements exceeds overall materiality. The amount is a matter of professional judgment based on the auditor's understanding of the entity and its risks.
4An auditor in Maputo is gathering evidence on a client's cash and receivables. Under ISA 500, which of the following is generally the most reliable audit evidence?
A.Audit evidence obtained directly by the auditor from independent external sources (such as direct bank confirmations)
B.Photocopies of internal purchase requisitions created by the warehouse manager
C.Original sales invoices generated by the client's own accounting system
D.Oral explanations provided by the company's internal sales clerks
Explanation: ISA 500 establishes general principles on evidence reliability: evidence obtained from independent external sources outside the entity is more reliable than internally generated evidence; evidence obtained directly by the auditor is more reliable than evidence obtained indirectly; and original documents are more reliable than photocopies.
5An auditor plans to send confirmation requests to a client's customers. Under ISA 505, what is a negative confirmation request?
A.A request asking the confirming party to respond only if they disagree with the information provided in the request
B.A request asking the confirming party to reply in every case, stating whether it agrees with the information given
C.A request that the client sends and collects itself before handing the replies to the auditor
D.A request asking the respondent to write down their entire account ledger without specifying a balance
Explanation: ISA 505 defines a negative confirmation request as a request that the confirming party respond directly to the auditor only if the confirming party disagrees with the information provided in the request. Because non-responses provide weak evidence, negative confirmations provide less persuasive audit evidence than positive confirmations.
6Under ISA 520 (Analytical Procedures), when are substantive analytical procedures most suitable during the audit process?
A.When they are the only procedure used to respond to a significant risk
B.When auditing unique, non-routine transactions with high risk of management override
C.When applied to large volumes of predictable transactions over time, such as payroll expenses or rental income
D.Exclusively during physical inventory counting on the final day of the year
Explanation: Under ISA 520, substantive analytical procedures are generally more applicable to large volumes of transactions that tend to be predictable over time (such as employee payroll, routine utility charges, or fixed rental streams), where relationships among financial and non-financial data can be modeled reliably.
7Under ISA 530 (Audit Sampling), what is 'sampling risk' (risco de amostragem)?
A.The risk that the auditor uses an inappropriate procedure or misinterprets audit evidence
B.The risk that the financial statements are materially misstated before the audit
C.The risk that internal controls fail to prevent, or detect and correct, a misstatement
D.The risk that the auditor's conclusion based on a sample may be different from the conclusion if the entire population were subjected to the same audit procedure
Explanation: ISA 530 defines sampling risk as the risk that the auditor's conclusion based on a sample may be different from the conclusion if the entire population were subjected to the same audit procedure. It can lead to two types of erroneous conclusion: concluding that controls are more effective, or a misstatement smaller, than is actually the case; or the reverse.
8Under ISA 560, what must the auditor do about events that occur between the date of the financial statements and the date of the auditor's report?
A.The auditor must perform audit procedures designed to obtain sufficient appropriate audit evidence that all events that require adjustment of, or disclosure in, the financial statements have been identified
B.The auditor needs evidence only about adjusting events; non-adjusting events are outside the audit
C.The auditor must re-perform the entire audit if any subsequent event is identified
D.The auditor has no responsibility to investigate any events after the balance sheet date
Explanation: Under ISA 560, the auditor has an active duty to perform audit procedures designed to obtain sufficient appropriate audit evidence that all events occurring between the date of the financial statements and the date of the auditor's report that require adjustment of, or disclosure in, the financial statements have been identified.
9Under ISA 570 (Going Concern), if adequate disclosure about a material uncertainty regarding the entity's ability to continue as a going concern is made in the financial statements, what opinion should the auditor express?
A.An adverse opinion, because the entity may not be able to continue as a going concern
B.An unmodified (clean) opinion, with a dedicated section titled 'Material Uncertainty Related to Going Concern' drawn to users' attention
C.A disclaimer of opinion refusing to issue any report
D.A qualified opinion, because the uncertainty is material
Explanation: Under ISA 570, if adequate disclosure about the material uncertainty is made in the financial statements, the auditor expresses an unmodified opinion and the auditor's report includes a separate section under the heading 'Material Uncertainty Related to Going Concern' to draw attention to the note disclosure.
10Under ISA 705 (Modifications to the Opinion in the Independent Auditor's Report), when should an auditor express an 'Adverse Opinion' (opinião adversa)?
A.When the client refuses to pay the agreed audit fees prior to audit fieldwork
B.When the auditor is unable to obtain audit evidence due to a fire destroying accounting records
C.When the auditor, having obtained sufficient appropriate audit evidence, concludes that misstatements, individually or in the aggregate, are both material and pervasive to the financial statements
D.Whenever the client experiences an operating loss during the financial period
Explanation: ISA 705 states that the auditor shall express an adverse opinion when the auditor, having obtained sufficient appropriate audit evidence, concludes that misstatements, individually or in the aggregate, are both material and pervasive to the financial statements.

About the OCAM Auditores Exam

Independent OCAM Auditores Certificados practice by OpenExamPrep for the written module tests that give admission to the Colégio dos Auditores Certificados of Mozambique's OCAM, under Lei n.º 8/2012 and Resolução n.º 15/GB/2017. Questions cover International Standards on Auditing, internal control and IT audit, IFRS financial reporting, IESBA ethics and independence, Mozambican company law on supervisory bodies, tax auditing, management accounting, and financial mathematics and corporate finance. The official tests are in Portuguese; this bank is an English-language MCQ study adaptation, not an official translation or format simulation.

Exam sponsor: Ordem dos Contabilistas e Auditores de Moçambique (OCAM) — Colégio dos Auditores Certificados. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

12 modules, each assessed by a written test: financial mathematics and quantitative methods; financial accounting I; financial accounting II; civil, commercial, company and labour law; economics and corporate finance; management accounting and control systems; taxation; Audit I – general aspects, risk identification and planning; Audit I – risk assessment, internal control and information systems; Audit II – substantive procedures; Audit II – conclusion and reporting; and professional ethics and independence. A three-year professional internship is also required.

Time Limit

Not published; each module has its own written test

Passing Score

A positive classification (above 50%) in the written test of each of the 12 modules

Exam / Certification Fees

Set per course edition; the V edition (2022) totalled 370,000 MT for OCAM members and 430,000 MT for non-members (including a 10,000 MT application fee), with 21,000 MT per module re-sit

Exam sponsor website

Fees, eligibility, and exam policies can change. Confirm them with the exam sponsor before applying or paying.

Official sources

Our practice resources: topics covered

We aim to reflect publicly available exam outlines and topic information in our study resources. Coverage, format, and difficulty may differ from the actual exam, and we cannot guarantee that every detail is accurate or current. Confirm exam requirements, fees, and policies with the official exam sponsor.

About 42% of this bank

Auditoria (Módulos Auditoria I e II): ISAs, risco, controlo interno e sistemas de informação

ISA objectives, risk assessment and materiality, audit evidence, sampling, subsequent events, going concern, audit reports, fraud and management override, internal control (COSO and ISA 315), IT general and application controls, and service organizations.

About 14% of this bank

Contabilidade Financeira I e II (IFRS e PGC-NIRF)

Consolidation and intra-group eliminations, fair value, deferred tax, financial instruments and expected credit losses, business combinations, employee benefits, leases, impairment, biological assets and segments.

About 11% of this bank

Ética Profissional e Independência

IESBA threats and safeguards, self-review from non-assurance services, key audit partner rotation, financial interests, contingent fees, fee dependence, NOCLAR, gifts and hospitality, and engagement quality reviews.

About 10% of this bank

Matemática Financeira, Métodos Quantitativos e Finanças Empresariais

Liquidity and leverage ratios, collection periods, WACC, DCF terminal value, audit sampling calculations, effective interest rates, NPV and price elasticity.

About 9% of this bank

Direito Comercial e das Sociedades

Conselho Fiscal and Fiscal Único requirements, impediments, duties and liability, the board's annual report, external auditors, own shares and delivery of accounts under the 2022 Commercial Code.

About 9% of this bank

Fiscalidade e Auditoria Tributária

Auditing IVA completeness and deductions, IRPS withholding exposure, transfer pricing documentation, tax contingencies under IAS 37, non-resident withholding, the tax documentation file, expired tax benefits and reclamação graciosa rules.

About 5% of this bank

Contabilidade de Gestão e Sistemas de Controlo

Standard costing variances, the Balanced Scorecard, absorption versus marginal costing, transfer pricing between divisions, and ROI and residual income.

Preparing for the OCAM Auditores Exam

What You Need to Know

  • Passing score: A positive classification (above 50%) in the written test of each of the 12 modules
  • Assessment: 12 modules, each assessed by a written test: financial mathematics and quantitative methods; financial accounting I; financial accounting II; civil, commercial, company and labour law; economics and corporate finance; management accounting and control systems; taxation; Audit I – general aspects, risk identification and planning; Audit I – risk assessment, internal control and information systems; Audit II – substantive procedures; Audit II – conclusion and reporting; and professional ethics and independence. A three-year professional internship is also required.
  • Time limit: Not published; each module has its own written test
  • Exam / certification fees: Set per course edition; the V edition (2022) totalled 370,000 MT for OCAM members and 430,000 MT for non-members (including a 10,000 MT application fee), with 21,000 MT per module re-sit Official sources

Using Our Practice Resources

  • Work through all 108 available questions
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OCAM Auditores: Suggested Study Strategy

1Organize your study around the 12 official modules, giving extra time to the four auditing modules on planning and risk, internal control and information systems, substantive procedures, and conclusion and reporting.
2Know the ISAs that drive audit judgments, especially ISA 315 (Revised 2019), ISA 330, ISA 240, ISA 570 and ISA 700–706, and practise explaining which opinion a situation requires.
3Study the IESBA Code's independence rules: partner rotation for public interest entities, prohibited non-assurance services, financial interests, fee dependence and NOCLAR.
4Review the 2022 Commercial Code rules on the Conselho Fiscal and Fiscal Único, including impediments, duties, liability and the timetable for delivering the annual accounts.
5Practise management accounting and financial mathematics calculations (variances, ROI and residual income, NPV and effective interest) with a calculator.

Frequently Asked Questions

How is admission to OCAM's Colégio dos Auditores Certificados structured?

Candidates complete OCAM's preparation course of up to 12 months and 12 modules, run in coordination with Portugal's OROC. They must obtain a positive classification in the written test for every module and complete the three-year professional internship, as well as meet the other requirements of Resolução n.º 15/GB/2017.

What happens if a candidate fails a module?

Under the latest published course brochure (V edition, 2022), a candidate who fails a module may re-sit that module's written test on the dates set for the next edition, for a fee of 21,000 MT. There is no separate resit sitting within the same edition.

Can foreign-qualified auditors be recognized?

Resolução n.º 15/GB/2017 allows professionals with an equivalent qualification certified by a professional regulator to register if they pass a test on Mozambican legislation (tax, commercial and civil law). A reciprocity agreement signed with Portugal's OROC on 24 November 2021 sets specific procedures for Portuguese Revisores Oficiais de Contas.

What can an Auditor Certificado do in Mozambique?

Under the OCAM Statute, certified auditors may audit the accounts of public and private entities, issue independent opinions on those accounts, perform limited reviews, and check compliance with legal and statutory rules. The 2022 Commercial Code also requires one member of a company's Conselho Fiscal, or its Fiscal Único, to be an auditor of accounts or an audit firm.

How much does the auditor pathway cost?

Fees are set for each course edition. The V edition (2022) brochure listed 370,000 MT in total for OCAM members and 430,000 MT for non-members, including a 10,000 MT application fee, with 21,000 MT per module re-sit. Check OCAM's current brochure for the edition you join.

Is this practice bank an official simulation?

No. It is independent practice by OpenExamPrep. The official module tests are in Portuguese and OCAM does not publish their item formats; this bank is an English-language MCQ study adaptation, not an official translation or format simulation.