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Free Practice Questions for Slovak Statutory Auditor Examination

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Key Facts: Slovak Statutory Auditor Examination Exam

The exam is held by ÚDVA under § 15 of Act No. 423/2015 Z. z.

Three written partial exams: 240, 240 and 360 minutes; at most 14 hours, 6 hours per day.

At least 70% is required in each partial exam.

Fee: €600; €200 per repeated partial exam.

Held in October; applications by the end of June.

Official language: Slovak; this bank is an English-language MCQ study adaptation.

The Slovak statutory auditor exam (ÚDVA) has three written partial exams (240, 240 and 360 minutes; at most 14 hours, 6 hours per day) held in Slovak each October. Each partial exam requires at least 70%, and the fee is €600 (€200 per repeated partial exam).

Sample Slovak Statutory Auditor Examination Practice Questions

Try these sample questions to review concepts for the Slovak Statutory Auditor Examination exam. Each question includes a detailed explanation. Start the interactive quiz above for the full 98+ question experience with AI tutoring.

1Under ISA 200, which attitude must the auditor maintain throughout the planning and performance of an audit?
A.Reasonable trust in management, unless the auditor finds evidence of fraud
B.An assumption that management is dishonest until external evidence shows otherwise
C.Professional skepticism, recognising that material misstatement may exist
D.Reliance on internal controls whenever management signs a representation letter
Explanation: ISA 200 requires the auditor to plan and perform the audit with professional skepticism, recognising that circumstances may exist that cause the financial statements to be materially misstated. Skepticism means a questioning mind and a critical assessment of evidence; it is neither assumed dishonesty nor unquestioning trust. § 20 of Act No. 423/2015 Z. z. also requires statutory auditors to maintain professional skepticism throughout the audit.
2Under ISA 210, which preconditions must be present before the auditor accepts an audit engagement?
A.An acceptable reporting framework and management's acknowledgement of its responsibilities
B.Payment of the full audit fee in advance and a signed management representation letter
C.ÚDVA approval of the engagement team and the planned audit fee for the engagement
D.A completed review of the prior-year tax returns by the tax administration
Explanation: ISA 210 requires the auditor to determine whether the financial reporting framework is acceptable. The auditor must also obtain management's agreement that it acknowledges its responsibility for the financial statements, for internal control and for giving the auditor access. If these preconditions are not present, the auditor does not accept the engagement unless law requires it; the agreed terms are recorded in an engagement letter.
3A manufacturing client has normalised profit before tax of EUR 2,400,000, revenues of EUR 48,000,000 and total assets of EUR 32,000,000. The auditor sets overall materiality at 5% of profit before tax and performance materiality at 75% of overall materiality. What are the two amounts?
A.Overall EUR 160,000; performance EUR 120,000
B.Overall EUR 240,000; performance EUR 180,000
C.Overall EUR 120,000; performance EUR 90,000
D.Overall EUR 480,000; performance EUR 360,000
Explanation: Overall materiality is 5% × EUR 2,400,000 = EUR 120,000. Performance materiality, set under ISA 320 to reduce the risk that aggregate uncorrected and undetected misstatements exceed overall materiality, is 75% × EUR 120,000 = EUR 90,000. The choice of benchmark and percentage is a matter of professional judgment; profit before tax is common for profit-oriented entities.
4Under ISA 240 and ISA 315 (Revised 2019), which identified risk must the auditor always treat as a significant risk?
A.Any account balance larger than 5% of total current liabilities
B.An assessed risk of material misstatement due to fraud
C.Every recurring transaction with a supplier in another EU state
D.Routine automated payroll processing with effective IT controls
Explanation: ISA 240 requires the auditor to treat assessed risks of material misstatement due to fraud as significant risks. Under ISA 315 (Revised 2019), other risks are significant when their inherent risk is assessed close to the upper end of the spectrum, which depends on likelihood and magnitude rather than on size thresholds. Significant risks require specific responses under ISA 330, including substantive procedures that respond to the risk.
5Under ISA 240, which rebuttable presumption must the auditor apply in every audit?
A.The risk of management override of controls exists, but it may be rebutted
B.Related-party transactions are presumed to be at non-arm's-length prices
C.Accounting estimates are presumed to be biased by management
D.There are risks of fraud in revenue recognition
Explanation: ISA 240 requires the auditor, based on a presumption that there are risks of fraud in revenue recognition, to evaluate which types of revenue, transactions or assertions give rise to such risks. If the auditor concludes that the presumption does not apply, the reasons must be documented. The risk of management override of controls is different: it is present in all entities and cannot be rebutted.
6An auditor uses monetary unit sampling on trade receivables with a book value of EUR 3,600,000. Tolerable misstatement is EUR 180,000, and the reliability factor for zero expected misstatement at 95% confidence is 3.0. What are the sampling interval and the sample size?
A.Interval EUR 120,000; sample size 30
B.Interval EUR 60,000; sample size 60
C.Interval EUR 90,000; sample size 40
D.Interval EUR 45,000; sample size 80
Explanation: The sampling interval is tolerable misstatement divided by the reliability factor: 180,000 / 3.0 = EUR 60,000. The sample size is the population value divided by the interval: 3,600,000 / 60,000 = 60 items. With systematic selection, every balance of EUR 60,000 or more is certain to be selected.
7Under ISA 500, how do the source and nature of audit evidence generally affect its reliability?
A.Oral explanations by management are more reliable than external confirmations
B.Photocopies and scans are as reliable as the original documents they reproduce
C.Evidence obtained from independent external sources is generally more reliable
D.Internally generated spreadsheets outweigh confirmations received from banks
Explanation: ISA 500 states that evidence is generally more reliable when obtained from independent sources outside the entity, when obtained directly by the auditor, and when it exists in documentary form. Original documents are generally more reliable than copies, and internally generated evidence is more reliable when related controls are effective. These are generalisations, so the auditor still considers the circumstances.
8Inventory is material to a client's financial statements. Which procedure does ISA 501 require?
A.Count every item in the warehouse personally, alongside the storekeepers
B.Rely on the perpetual inventory records if they were reconciled during the year
C.Obtain a written representation on quantities instead of attending the count
D.Attend the physical inventory count, unless it is impracticable
Explanation: ISA 501 requires the auditor to attend the physical inventory count, unless impracticable, to evaluate management's instructions, observe the count, inspect the inventory and perform test counts. The auditor also performs procedures on the final inventory records. If attendance is impracticable, alternative procedures are needed; if they are not possible, the auditor modifies the opinion.
9Management refuses to let the auditor send confirmation requests to three major debtors. What does ISA 505 require?
A.Inquire into the reasons, evaluate their implications and perform alternative procedures
B.Issue a qualified or adverse opinion at once, without considering management's reasons
C.Send the requests anyway, without management's consent, to the debtors' addresses
D.Accept the restriction if management signs a representation confirming the balances
Explanation: ISA 505 requires the auditor to inquire into management's reasons, seek evidence about their validity and reasonableness, and evaluate the implications for the risk assessment, including fraud risk. The auditor then performs alternative procedures. If the refusal is unreasonable or alternative evidence cannot be obtained, the auditor communicates with those charged with governance and considers the effect on the opinion under ISA 705.
10In Year 1 a retailer had sales of EUR 10,000,000 and cost of goods sold of EUR 7,000,000. In Year 2 sales were EUR 12,000,000 and cost of goods sold was recorded at EUR 9,000,000. What is the Year 2 gross margin, and how does recorded cost of goods sold compare with an expectation based on the Year 1 margin?
A.33.3%; recorded cost is EUR 600,000 lower than expected
B.25.0%; recorded cost is EUR 600,000 higher than expected
C.28.0%; recorded cost is EUR 240,000 higher than expected
D.22.5%; recorded cost is EUR 1,200,000 higher than expected
Explanation: Year 2 gross profit is 12,000,000 - 9,000,000 = EUR 3,000,000, a margin of 25.0%. At the Year 1 margin of 30%, expected cost of goods sold is 70% × 12,000,000 = EUR 8,400,000. Recorded cost is EUR 600,000 higher than expected, a difference the auditor must investigate under ISA 520.

About the Slovak Statutory Auditor Examination Exam

Independent practice for the Slovak statutory auditor examination (audítorská skúška), which the Auditing Oversight Authority (Úrad pre dohľad nad výkonom auditu, ÚDVA) holds under § 15 of Act No. 423/2015 Z. z. Passing it is one of the conditions for the certificate of competence to perform statutory audits, together with a second-level degree, three years of practical training and continuing education as an assistant. The official exam is written, in Slovak, and split into three partial exams on accounting, auditing and economics/law. This bank turns the official topic list into English-language multiple-choice questions with statutory references; it is an English-language MCQ study adaptation, not an official translation or format simulation.

Exam sponsor: Úrad pre dohľad nad výkonom auditu (ÚDVA). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

Three written partial exams (čiastkové skúšky): 1. accounting, consolidation and IFRS (240 minutes); 2. auditing, ISAs, statutory audit law and the Code of Ethics (240 minutes); 3. economics, financial management, managerial accounting, law and information systems (360 minutes). The exam lasts at most 14 hours, with no more than 6 hours on one day.

Time Limit

At most 14 hours in total (240 + 240 + 360 minutes), no more than 6 hours per day

Passing Score

At least 70% of the points in each partial exam

Exam / Certification Fees

€600; €200 for each repeated partial exam

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.

32 practice questions

Audit procedures, ISAs and professional ethics

ISA 200–805, ISQM 1 and ISQM 2, and the Code of Ethics: acceptance, materiality, risk and fraud, evidence, sampling, estimates, going concern, group audits and reporting.

18 practice questions

Statutory audit law, ÚDVA oversight and the EU audit regulation

Act No. 423/2015 Z. z. and Regulation (EU) No 537/2014: certification, independence, documentation, reporting duties, audit committees, rotation, quality reviews, CPE, confidentiality, liability and discipline.

30 practice questions

Accounting, IFRS and consolidation

Act No. 431/2002 Z. z., Slovak accounting procedures and IFRS, including size groups, audit obligation, allowances, consolidation exemption, leases, impairment, deferred tax and business combinations.

18 practice questions

Financial management, managerial accounting and law

Financial ratios and bankruptcy models, break-even and costing methods, Commercial Code capital rules, company in crisis, director liability, bankruptcy law, AML duties and Labour Code notice periods.

Preparing for the Slovak Statutory Auditor Examination Exam

What You Need to Know

  • Passing score: At least 70% of the points in each partial exam
  • Assessment: Three written partial exams (čiastkové skúšky): 1. accounting, consolidation and IFRS (240 minutes); 2. auditing, ISAs, statutory audit law and the Code of Ethics (240 minutes); 3. economics, financial management, managerial accounting, law and information systems (360 minutes). The exam lasts at most 14 hours, with no more than 6 hours on one day.
  • Time limit: At most 14 hours in total (240 + 240 + 360 minutes), no more than 6 hours per day
  • Exam / certification fees: €600; €200 for each repeated partial exam Official sources

Using Our Practice Resources

  • Work through all 98 available questions
  • Review every answer and explanation
  • Track weak areas and revisit them
  • Use our AI tutor for tough concepts

Slovak Statutory Auditor Examination: Suggested Study Strategy

1Use ÚDVA's published topic list (okruhy tém) for the current year; it states the date at which the laws are tested.
2Learn the Act No. 423/2015 Z. z. numbers that are easy to confuse: 10-year documentation retention, 5-year key partner rotation with 3 years' cooling-off, and 120 CPE hours per 3-year cycle.
3Practise ISA reporting decisions (unmodified with a going concern section, qualified, adverse, disclaimer) on short scenarios until they are automatic.
4Work through numerical IFRS topics such as leases, impairment, deferred tax, goodwill and EPS with a calculator.
5For partial exam 3, combine financial analysis practice with the Commercial Code rules on capital, crisis and director liability.

Frequently Asked Questions

How is the Slovak statutory auditor exam structured?

Under § 15 of Act No. 423/2015 Z. z. and the ÚDVA examination rules, the exam is written and consists of three partial exams: accounting (240 minutes), auditing (240 minutes) and economics, finance and law (360 minutes). It may last at most 14 hours, with no more than six hours on one day, and is taken anonymously before ÚDVA's examination commission.

What score do I need to pass?

You need at least 70% of the points in each partial exam. If you fail a partial exam, you repeat only that part; if you do not pass it in the regular sitting or the next two sittings set by ÚDVA, you must repeat the whole exam (§ 15(6) of Act No. 423/2015 Z. z.).

Who can obtain the statutory auditor certificate?

Under § 3(1) of Act No. 423/2015 Z. z., a candidate needs full legal capacity, good repute, a second-level university degree, at least three years of practical training (at least 2,100 hours under a written contract with a statutory auditor or audit firm), continuing education as an assistant, and a passed auditor exam.

How much does the exam cost and when is it held?

The fee is €600, and each repeated partial exam costs €200. The exam is held in October, and applications must be submitted by the end of June of that year.

In what language is the exam, and how does this practice bank relate to it?

The exam is held in the state language, Slovak. This bank is an independent English-language MCQ study adaptation of the official topic list that keeps Slovak legal terms; it is not an official translation and does not simulate the written partial exams.