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Free Practice Questions for Norwegian Auditor Practical Exam (Statsautorisert revisor)

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Key Facts: Norwegian Auditor Practical Exam (Statsautorisert revisor) Exam

5 hours

Written case examination duration (09:00 to 14:00 single-day digital exam)

Revisorforeningen

2 years

Minimum supervised practical audit experience required to sit the exam (24 months / 3,200 hours)

Revisorloven § 3-3

NOK 2,350

Examination fee published by Revisorforeningen

Revisorforeningen

MRR

Master in Accounting and Auditing required as foundational degree

Forskrift om revisjon og revisorer § 1-4

Bestått / Ikke bestått

Binary grading scale applied by Eksamensutvalget

Eksamensinstruksen

The Norwegian Praktisk eksamen for revisor is the statutory professional capstone examination administered by Den norske Revisorforening under oversight of Finanstilsynet. Candidates must hold a Master in Accounting and Auditing (MRR) and at least 2 years of audit experience to take the 5-hour case-based exam. This English-language 100-item practice bank is an independent study adaptation, not an official translation or format simulation.

Sample Norwegian Auditor Practical Exam (Statsautorisert revisor) Practice Questions

Try these sample questions to review concepts for the Norwegian Auditor Practical Exam (Statsautorisert revisor) exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 100+ question experience with AI tutoring.

1Under ISA 315 (Revised 2019), what is the primary purpose of identifying and assessing the risks of material misstatement at the assertion level?
A.To provide the basis for designing and performing further audit procedures responsive to assessed risks
B.To establish the initial fee structure and staffing levels for the audit engagement
C.To determine whether the entity complies with all municipal tax regulations in Norway
D.To provide absolute assurance that the internal control system has no control deficiencies
Explanation: ISA 315 (Revised 2019) paragraph 11 states that the objective of the auditor is to identify and assess risks of material misstatement at both the financial statement level and the assertion level. Assessing risks at the assertion level directly informs the nature, timing, and extent of further audit procedures under ISA 330.
2When establishing overall materiality under ISA 320 for a commercial, profit-oriented manufacturing company operating in Norway with stable operations, which benchmark is ordinarily the most appropriate starting point?
A.Profit before tax from continuing operations (resultat før skatt)
B.Total assets (totalkapital) using a flat 15% benchmark
C.Total share capital (aksjekapital) without adjustment for reserves
D.Current liabilities (kortsiktig gjeld) as reported at year-end
Explanation: Under ISA 320.A4, for profit-oriented entities with stable earnings, profit before tax from continuing operations is ordinarily considered the most appropriate benchmark because financial statement users are typically focused on profitability. Total assets or gross revenue may be used when profit is volatile or close to zero.
3What is the primary role of performance materiality (handlingsvesentlighet) as defined in ISA 320 paragraph 9?
A.To reduce to an appropriately low level the probability that the aggregate of uncorrected and undetected misstatements exceeds overall materiality
B.To define the maximum threshold below which misstatements do not need to be accumulated in the audit summary
C.To set the statutory legal limit for punitive damages against the auditor under Revisorloven
D.To establish the exact monetary amount of unadjusted journal entries that management must post
Explanation: ISA 320.9 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.
4An auditor sets overall materiality at NOK 2,000,000. Prior audits found several misstatements, accounting staff turnover is high, and operations are decentralized. How should those factors affect performance materiality under ISA 320?
A.Use professional judgment to set performance materiality below overall materiality, with the elevated aggregation risk supporting a lower amount than otherwise
B.Set it automatically at 75% because ISA 320 prescribes that percentage
C.Set it equal to overall materiality because prior misstatements have already been corrected
D.Calculate it from the entity's corporate tax rate
Explanation: ISA 320 requires performance materiality to be set below materiality for the financial statements as a whole. It does not prescribe a percentage. The amount is a professional judgment designed to reduce aggregation risk to an appropriately low level; prior misstatements and control or staffing concerns can support a lower amount.
5Under ISA 450, how should the auditor classify an identified misstatement where the client's management calculated a warranty provision using an aggressive 1% defect rate, whereas the auditor's point estimate based on historical claims data and warranty terms is 3%?
A.A judgmental misstatement (skjønnsmessig feil)
B.A factual misstatement (faktisk feil)
C.A projected misstatement (fremskutt feil)
D.A clearly trivial misstatement (ubetydelig feil)
Explanation: ISA 450.A6 classifies misstatements into three categories: factual misstatements (where there is no doubt), judgmental misstatements (arising from differences in judgments concerning accounting estimates or accounting policies), and projected misstatements (the auditor's best estimate of misstatements in populations based on samples). Differences in warranty estimation parameters are judgmental misstatements.
6During an audit, a representative sample of receivables has a total recorded value of NOK 8,000,000 and contains factual overstatements of NOK 160,000. If the auditor uses ratio estimation to project that observed rate to the homogeneous NOK 40,000,000 population, what is the projected misstatement?
A.NOK 800,000
B.NOK 160,000
C.NOK 400,000
D.NOK 1,600,000
Explanation: The observed overstatement rate is NOK 160,000 / NOK 8,000,000 = 2%. Ratio estimation projects that rate to the NOK 40,000,000 population: 2% × NOK 40,000,000 = NOK 800,000. ISA 530 requires projection for tests of details, but the projection method must match the sampling design; this calculation is ratio estimation, not a complete monetary-unit-sampling evaluation.
7According to ISA 500, which source of audit evidence is ordinarily considered the most reliable?
A.Audit evidence obtained directly by the auditor from independent external sources
B.Audit evidence generated internally by the client when internal controls are deficient
C.Oral representations provided by the chief executive officer during an informal meeting
D.Photocopies of supplier delivery notes without original signatures or digital stamps
Explanation: ISA 500.A31 states that the reliability of audit evidence is increased when it is obtained from independent sources outside the entity, obtained directly by the auditor (e.g., direct observation or external confirmation), and exists in documentary form rather than oral representations.
8Under ISA 501, what audit procedure is required when inventory is material to the financial statements?
A.Attend physical inventory counting, unless impracticable, to evaluate management's instructions and observe counting procedures
B.Physically count 100% of all inventory line items across all warehouse locations personally
C.Rely entirely on management's perpetual inventory records without physical inspection
D.Engage an independent valuation expert to re-measure all inventory items at liquidation value
Explanation: ISA 501.4 requires that if inventory is material to the financial statements, the auditor shall obtain sufficient appropriate audit evidence regarding the existence and condition of inventory by attending physical inventory counting, unless impracticable, evaluating management's instructions and procedures, observing counting, inspecting inventory, and performing test counts.
9An auditor requests positive external confirmations for trade receivables under ISA 505. Customer Nordic Retail AS fails to respond to both the initial confirmation request and a subsequent reminder. What action should the auditor take next?
A.Perform alternative audit procedures, such as examining subsequent cash receipts and verifying shipping documentation
B.Automatically qualify the audit opinion for a limitation on scope without further work
C.Treat the entire balance as a confirmed fraudulent transaction and notify Økokrim immediately
D.Write off the receivable as uncollectible in the audit working papers on behalf of client management
Explanation: Under ISA 505.12, in the case of each non-response, the auditor shall perform alternative audit procedures to obtain relevant and reliable audit evidence. Typical alternative procedures for receivables include examining specific subsequent cash receipts, shipping documentation, and sales contracts.
10When designing substantive analytical procedures under ISA 520, which condition is essential for the procedure to provide effective audit evidence?
A.The auditor must develop an expectation that is sufficiently precise to identify a material misstatement
B.The client's internal budget figures must be accepted without evaluating their underlying reliability
C.Substantive analytical procedures must completely replace all tests of details for material asset classes
D.The analytical procedure must be performed solely on non-financial operational statistics
Explanation: ISA 520.5(c) requires the auditor to develop an expectation of recorded amounts or ratios and evaluate whether the expectation is sufficiently precise to identify a misstatement that, individually or when aggregated with other misstatements, may cause the financial statements to be materially misstated.

About the Norwegian Auditor Practical Exam (Statsautorisert revisor) Exam

The Praktisk eksamen for revisor is Norway's mandatory statutory audit qualification examination under Revisorloven § 3-3 and Forskrift om revisjon og revisorer § 1-4, administered annually by Den norske Revisorforening. It tests candidates' ability to apply relevant rules with professional scepticism and judgment while performing a statutory audit engagement or parts of one. Finanstilsynet separately decides applications for personal approval.

Exam sponsor: Den norske Revisorforening (Revisorforeningen) / Finanstilsynet. The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Performance-based assessment

Time Limit

5-hour window (09:00 to 14:00; four hours expected working time plus one hour for login and submission)

Passing Score

Bestått (Pass) / Ikke bestått (Fail)

Exam / Certification Fees

NOK 2,350 (2026 examination fee)

Exam sponsor website

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

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.

25 practice questions (local allocation; official written case covers integrated audit scenarios)

International Standards on Auditing (ISA) & Audit Execution

ISA 200–600 series: risk assessment and internal control (ISA 315), materiality determination and evaluation of misstatements (ISA 320/450), audit procedures and evidence (ISA 500), substantive testing, accounting estimates (ISA 540), subsequent events (ISA 560), going concern (ISA 570), and group audits (ISA 600).

9 practice questions (local allocation; official case uses variable integrated tasks and publishes no fixed domain weighting)

Auditor Reporting & Opinions

Structure of the auditor's report (ISA 700), Key Audit Matters / Sentrale forhold ved revisjonen (ISA 701), modified opinions (ISA 705: qualified, adverse, disclaimer), emphasis of matter and other matter paragraphs (ISA 706), statutory reporting duties to management and the board (numbered letters / nummererte brev under Revisorloven § 9-5), and reporting of irregularities.

16 practice questions (local allocation; tested across all case components)

Professional Ethics, Independence & Quality Management

Revisorloven Chapter 8 independence rules, IESBA Code of Ethics, identification of independence threats and safeguards, EU Audit Regulation prohibitions on non-audit services for Public Interest Entities (PIEs), fee dependency limits, key audit partner rotation (7 years), quality management standards (ISQM 1, ISQM 2, ISA 220), confidentiality (taushetsplikt), and regulatory supervision by Finanstilsynet.

21 practice questions (local allocation; official case uses variable integrated tasks and publishes no fixed domain weighting)

Financial Reporting Standards (Regnskapsloven, GRS & IFRS)

Norwegian Accounting Act (Regnskapsloven), Norwegian Accounting Standards (God regnskapsskikk / NRS standarder, including NRS 1, NRS 8, NRS 9 and NRS 14), differences for small entities (små foretak), valuation principles (omløpsmidler vs anleggsmidler), revenue recognition, impairment testing, provisions, equity presentation, and IFRS core requirements.

4 practice questions (local allocation; official case uses variable integrated tasks and publishes no fixed domain weighting)

Taxation, VAT & Compliance

Norwegian corporate income tax, the exemption method (fritaksmetoden), VAT rates and reporting, and the real-estate input VAT adjustment regime.

11 practice questions (local allocation; official case uses variable integrated tasks and publishes no fixed domain weighting)

Norwegian Corporate Law & Corporate Governance (Aksjeloven)

Norwegian Limited Liability Companies Act (Aksjeloven - AS) and Public Limited Companies Act (Allmennaksjeloven - ASA): share capital rules, capital increases and reductions, dividend distributions (§ 8-1), equity and liquidity adequacy requirements (§ 3-4), shareholder loans and security (§§ 8-7 to 8-10), mergers, demergers, and statutory auditor attestations (redegjørelser).

8 practice questions (local allocation; tested in client acceptance and transaction monitoring)

Anti-Money Laundering, Fraud & Economic Crime (Hvitvaskingsloven & ISA 240)

Norwegian Anti-Money Laundering Act (Hvitvaskingsloven): customer due diligence (kundetiltak / KYC), beneficial ownership (reelle rettighetshavere), politically exposed persons (PEPs), examination and mandatory reporting of suspicious circumstances to Økokrim (Enheten for finansiell etterretning - EFE), tipping-off prohibitions, fraud responsibilities under ISA 240, and board communication under Revisorloven § 9-5.

6 practice questions (local allocation; tested in non-audit assurance scenarios)

Assurance, Review & Other Services (ISRE, ISAE & ISRS)

Review engagements (ISRE 2400 / ISRE 2410), assurance engagements other than audits (ISAE 3000), assurance on sustainability reporting (CSRD / ESRS), agreed-upon procedures (ISRS 4400), and special statutory statements required under Norwegian legislation.

Preparing for the Norwegian Auditor Practical Exam (Statsautorisert revisor) Exam

What You Need to Know

  • Passing score: Bestått (Pass) / Ikke bestått (Fail)
  • Assessment: Performance-based assessment
  • Time limit: 5-hour window (09:00 to 14:00; four hours expected working time plus one hour for login and submission)
  • Exam / certification fees: NOK 2,350 (2026 examination fee) Official sources

Using Our Practice Resources

  • Work through all 100 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Norwegian Auditor Practical Exam (Statsautorisert revisor): Suggested Study Strategy

1Master the integration between ISAs and Norwegian company law: practice evaluating how accounting misstatements directly impact dividend legality under Aksjeloven § 8-1 and board responsibilities under § 3-4.
2Understand the statutory duties under Revisorloven 2020: distinguish numbered board communications (§ 9-5), mandatory withdrawal for unremedied material breaches (§ 9-6), and the permission to inform police despite confidentiality (§ 10-1).
3Thoroughly review independence rules under Revisorloven Chapter 8, particularly the strict prohibitions on non-audit services for Public Interest Entities (PIEs) under EU Regulation 537/2014 and mandatory 7-year audit partner rotation.
4Practice quantitative computations for planning materiality (ISA 320), performance materiality, evaluation of uncorrected misstatements (ISA 450), and distributable equity under Aksjeloven.
5Learn the exact reporting criteria for auditor opinions under ISA 700, 701 (Key Audit Matters), 705 (Modified Opinions), and 706 (Emphasis of Matter and Other Matter paragraphs).

Frequently Asked Questions

What is the Norwegian Praktisk eksamen for revisor?

The Praktisk eksamen for revisor is the statutory professional qualification examination in Norway governed by Revisorloven § 3-3 and Forskrift om revisjon og revisorer § 1-4. Passing this practical examination is a mandatory condition to apply to Finanstilsynet for personal approval as a state-authorised public accountant (statsautorisert revisor).

Who is eligible to register for the practical examination?

To register, candidates must hold a Master's degree in Accounting and Auditing (Master i regnskap og revisjon - MRR) from an accredited Norwegian higher education institution (or recognized equivalent) and have completed at least 2 years (24 months and 3,200 hours) of supervised practical auditing training. Full authorization from Finanstilsynet requires 3 years of practice in total.

What is the format and duration of the official examination?

The examination is a take-home written case with a 09:00 to 14:00 digital window. The official instructions allocate four hours of expected working time and one hour for login and submission. Candidates independently submit one Word or PDF file using Vipps; written and technical aids are allowed.

What is the examination fee and passing standard?

The published 2026 examination fee is NOK 2,350. The final result is Bestått (Pass) or Ikke bestått (Fail); the latest published marking guidance treats A–D-equivalent performance as passing and E or lower as failing.

What language is used in the official Norwegian auditor exam?

The latest released official examination paper and instructions are in Norwegian, and the current portal does not advertise a separate English sitting. This bank therefore records Norwegian as the evidenced official assessment language while preserving exact Norwegian statutory and professional terms.

How does this practice question bank relate to the official examination?

This English-language 100-question multiple-choice bank is an independent study adaptation created by OpenExamPrep. It helps candidates test and master core principles, International Standards on Auditing (ISA), Norwegian statutory provisions (Revisorloven, Aksjeloven, Regnskapsloven), tax rules, and ethical standards through structured practice. It is not an official translation, format simulation, or substitute for comprehensive written case drafting.