Free Practice Questions for CPA Thailand — Paper: Auditing 2

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Sample CPA Thailand — Paper: Auditing 2 Practice Questions

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1Under TSA 315 (Revised 2019), which of the following is NOT one of the five interrelated components of an entity's system of internal control?

A.Control environment

B.Information system and communication

C.Control activities

D.Substantive analytical procedures

Explanation: The five components of internal control under TSA 315 (Revised) are: (1) Control environment, (2) The entity's risk assessment process, (3) The entity's process to monitor the system of internal control, (4) Information system and communication, and (5) Control activities. Substantive analytical procedures are audit procedures performed by the auditor, not an internal control component of the entity.

2An auditor is assessing risks of material misstatement under TSA 315 (Revised). Which of the following risks is most appropriately classified as a risk of material misstatement at the financial statement level rather than at the assertion level?

A.The client holds complex financial derivatives whose valuation requires specialized mathematical modeling.

B.Management lacks integrity and exhibits an aggressive attitude toward earnings forecasts to secure bank covenant compliance.

C.Warehouse personnel fail to perform physical counts of slow-moving inventory at year-end.

D.The client changed its revenue cut-off procedures for international export shipments near the balance sheet date.

Explanation: Risks of material misstatement at the financial statement level refer to risks that relate pervasively to the financial statements as a whole and potentially affect many assertions. Management lack of integrity or aggressive culture affects the overall control environment and pervasively increases fraud risk across all assertions.

3Which of the following statements is correct regarding 'significant risks' under TSA 315 (Revised 2019)?

A.A significant risk is an identified risk of material misstatement for which the assessment of inherent risk is close to the upper end of the spectrum of inherent risk.

B.Significant risks are determined solely based on whether the entity's internal controls are designed effectively.

C.If a risk is determined to be significant, the auditor may rely entirely on tests of controls performed in the prior year without retesting.

D.Significant risks can only arise from non-routine transactions and never from ordinary revenue transactions or fraud risks.

Explanation: A significant risk includes an identified risk whose assessed inherent risk is close to the upper end of the inherent-risk spectrum. Likelihood and magnitude are considered together with the effect of inherent-risk factors. A risk treated as significant under another TSA also falls within the definition; effective controls do not by themselves determine inherent risk.

4An auditor is establishing overall materiality for Somchai Logistics Public Co., Ltd., a company listed on the Stock Exchange of Thailand (SET). Financial results show pre-tax profit of THB 140,000,000, which includes a non-recurring pre-tax gain of THB 20,000,000 from the sale of surplus warehouse land. If the audit firm's policy benchmark for profitable listed commercial entities is 5% of normalized profit before tax, what is the preliminary overall materiality?

A.THB 7,000,000

B.THB 6,000,000

C.THB 5,000,000

D.THB 1,000,000

Explanation: Normalized profit before tax excludes volatile or non-recurring items. The normalized profit before tax is THB 140,000,000 − THB 20,000,000 = THB 120,000,000. Applying the 5% benchmark gives THB 120,000,000 × 5% = THB 6,000,000.

5Under TSA 320, paragraph 12, when must the auditor revise materiality for the financial statements as a whole during the audit?

A.Only if requested in writing by the client's board of directors or audit committee.

B.If the auditor becomes aware of information during the audit that would have caused the auditor to have determined a different amount initially.

C.Only after the final audit report has been issued and subsequent discovery of facts occurs.

D.At every month-end regardless of whether interim results deviate from annual forecasts.

Explanation: Revise materiality when new information would have led to a different initial determination. For example, substantially lower actual profit may change a profit-based benchmark. Also evaluate the implications for performance materiality and the nature, timing and extent of procedures.

6An auditor of Siam Retail Co., Ltd. established overall materiality at THB 4,500,000 and performance materiality at THB 3,000,000. At the conclusion of the audit, the schedule of uncorrected misstatements includes: (1) unrecorded trade accounts payable of THB 2,200,000, (2) overstated ending inventory of THB 1,800,000, and (3) understated depreciation expense of THB 800,000. All three misstatements overstate net income and equity. Management refuses to adjust the financial statements. According to TSA 450 and TSA 705, how should the auditor evaluate this situation?

A.The misstatements are individually below overall materiality, so the auditor can issue an unmodified opinion without further action.

B.The aggregate uncorrected misstatement is THB 4,800,000, which exceeds overall materiality (THB 4,500,000); because management refuses to adjust, the auditor must modify the audit opinion.

C.The auditor must compare the misstatements only against performance materiality, requiring an immediate disclaimer of opinion.

D.The auditor should increase the overall materiality threshold to THB 5,000,000 so that the financial statements can be issued with a clean opinion.

Explanation: The aggregate uncorrected misstatement is THB 2,200,000 + THB 1,800,000 + THB 800,000 = THB 4,800,000. Because THB 4,800,000 exceeds overall materiality of THB 4,500,000, the financial statements as a whole are materially misstated. Per TSA 450 and TSA 705, if management refuses to correct them, the auditor must express a qualified opinion (or adverse opinion if pervasive).

7Under TSA 330 (The Auditor's Responses to Assessed Risks), which of the following is considered an overall response to address assessed risks of material misstatement at the financial statement level?

A.Sending external bank confirmations to verify year-end cash balances.

B.Emphasizing to the audit team the need to maintain professional skepticism and assigning more experienced staff or specialists.

C.Inspecting physical sales delivery notes to test the cut-off assertion of revenue.

D.Recalculating the allowance for expected credit losses on trade receivables.

Explanation: Financial-statement-level risks call for overall responses such as experienced personnel, closer supervision and an emphasis on skepticism. Unpredictability in procedures can also be appropriate. These responses influence the audit broadly, while the other listed procedures address particular account assertions.

8An auditor plans to rely on controls previously tested in an earlier audit. Under TSA 330, which circumstance specifically requires current-period testing rather than relying solely on that earlier evidence?

A.The controls operate over routine purchasing and have not changed since the previous audit.

B.The controls mitigate an identified significant risk of material misstatement.

C.The entity operates in a stable industry with low turnover among accounting staff.

D.The controls were tested within the past two annual audits.

Explanation: Under TSA 330.15, if the auditor plans to rely on controls over a risk the auditor has determined to be a significant risk, the auditor shall test those controls in the current period. Prior-period audit evidence cannot be used for controls mitigating significant risks.

9Under TSA 330, paragraph 18, irrespective of the assessed risks of material misstatement, what is the auditor required to design and perform for each material class of transactions, account balance, and disclosure?

A.Extensive tests of controls over every transaction cycle.

B.Substantive procedures.

C.Forensic data analytics for management override.

D.Independent confirmation of 100% of all customer accounts.

Explanation: TSA 330.18 explicitly states that irrespective of the assessed risks of material misstatement, the auditor shall design and perform substantive procedures for each material class of transactions, account balance, and disclosure. This reflects the inherent limitations of internal control and risk assessment.

10Which of the following procedures is the best example of a 'dual-purpose test' as described in auditing standards?

A.Inquiring of the chief financial officer about pending lawsuits while reading the board minutes.

B.Inspecting a vendor invoice for the authorized purchasing manager's approval while checking its arithmetic and agreeing the recorded expense amount.

C.Confirming accounts receivable with customers and sending confirmations to suppliers.

D.Recalculating depreciation using straight-line and accelerated methods simultaneously.

Explanation: A dual-purpose test addresses both control effectiveness and a substantive assertion using the same item. Here the approval signature relates to the control objective, while checking the calculation addresses the recorded amount. Design and evaluate each objective separately rather than assuming success on one proves the other.

About the CPA Thailand — Paper: Auditing 2 Exam

Independent practice by OpenExamPrep for CPA Thailand — Paper: Auditing 2. This is an independent English-language MCQ study adaptation, not an official translation, format simulation or substitute for handwritten cases and mandatory practical training. This 64-item bank offers selected practice in quality management and engagement terms, planning and risk, revised group audits, reporting, reviews and other professional engagements; it does not claim exhaustive coverage of the official scope.

Exam sponsor: สภาวิชาชีพบัญชี ในพระบรมราชูปถัมภ์ — Federation of Accounting Professions under Royal Patronage (TFAC). The requirements and fees below concern the certification or admission exam, separate from our free practice resources.

Assessment

TFAC's paper-based four-hour sitting combines objective answer sheets and handwritten subjective solutions. Answers are in Thai, with English technical terms permitted. The sitting notice specifies no separate oral examination or coursework assignment; supervised audit training is a separate licensing requirement.

Time Limit

Four hours (240 minutes).

Passing Score

At least 60% for this subject; each passed subject may be retained for up to seven years under the current amendment.

Exam / Certification Fees

THB 1,000 per subject.

Exam sponsor website

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

Official sources

TFAC — CPA Candidate Information Portal · Source checked 2026-10-18Official sitting schedule, subject notices, 1-year/1,000-hour training prerequisite for auditing papers, and Thai response rules.
TFAC — Auditing 2 Official Scope · Source checked 2026-10-18Official paper scope; no numeric topic percentages are published in this document.
TFAC — Notice No. 31/2569 · Source checked 2026-10-18Examination schedule for sitting 64: Auditing 2 on 15 November 2026; fee THB 1,000.
TFAC — Seven-year result-retention amendment · Source checked 2026-10-18Current subject-result retention, superseding the former four-year rule.
TFAC — Thai auditing and assurance standards · Source checked 2026-10-18Current reporting, review, assurance and related-services standards.
TFAC — TSA 600 (Revised) · Source checked 2026-10-18Current group-audit requirements and component performance materiality.
TFAC — Quality management standards · Source checked 2026-10-18Current TSQM 1 and TSQM 2 texts.

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.

21 of 64 practice items; not an official exam weight

Quality management, terms and planning

TSQM 1/2, engagement terms, planning, risk, materiality, fraud and governance communication.

16 of 64 practice items; not an official exam weight

Groups and work of others

Revised TSA 600, component performance materiality, internal audit and experts.

11 of 64 practice items; not an official exam weight

Audit reporting

Opinion modifications, KAMs, emphasis/other matter and comparative information.

16 of 64 practice items; not an official exam weight

Reviews, special reports and other engagements

TSRE reviews, special considerations, other assurance, agreed-upon procedures and compilation.

Preparing for the CPA Thailand — Paper: Auditing 2 Exam

What You Need to Know

Passing score: At least 60% for this subject; each passed subject may be retained for up to seven years under the current amendment.
Assessment: TFAC's paper-based four-hour sitting combines objective answer sheets and handwritten subjective solutions. Answers are in Thai, with English technical terms permitted. The sitting notice specifies no separate oral examination or coursework assignment; supervised audit training is a separate licensing requirement.
Time limit: Four hours (240 minutes).
Exam / certification fees: THB 1,000 per subject. Official sources

Using Our Practice Resources

Work through all 64 available questions
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CPA Thailand — Paper: Auditing 2: Suggested Study Strategy

1Distinguish known misstatement from missing evidence, then assess materiality and pervasiveness.

2Use revised TSA 600 terminology, including component performance materiality.

3Write complete audit and review reporting responses in Thai; MCQ recognition alone does not practice that performance.

Frequently Asked Questions

Does this bank reproduce the official assessment?

This is an independent English-language MCQ study adaptation, not an official translation, format simulation or substitute for handwritten cases and mandatory practical training. The official assessment uses Thai paper objective answers and handwritten subjective solutions. English technical terms are permitted, which does not make the assessment English-language.

What training and result-retention conditions apply?

Recognized accounting education and approved training conditions apply. Auditing 1 and 2 require at least one year and 1,000 training hours before entry; final licensing ordinarily requires at least three years and 3,000 hours plus the other statutory conditions. Each passed subject can be retained for up to seven years under the current amendment; this is not a promise that passing the first subject starts one fixed deadline for all results.

What changed in the revised group-audit material?

The current scope identifies revised TSA 600. Study the risk-based approach, direction and review of component work and component performance materiality rather than treating former significant-component percentages as mandatory current thresholds.