AGA Exam CGFM Topic 2 Question 52 Discussion

Actual exam question for AGA's CGFM exam

Question #: 52
Topic #: 2

[All CGFM Questions]

The first step in assessing an agency's internal control program's compliance with applicable laws and regulations is

Areview legal actions against the agency for noncompliance with laws and regulations.

Bcontact the legislature to secure its views on any areas of regulatory noncompliance.

Cdevelop an inventory of the applicable laws and regulations.

Drequest a compliance review from the agency's chief legal officer.

Show Suggested Answer

Suggested Answer: D

by Jesusita at Jul 15, 2024, 11:16 PM

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Lindsey

21 hours ago

Haha, option B? Really? Good luck getting the legislature to weigh in on that. Might as well ask a magic 8-ball.

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Stevie

15 days ago

I was thinking option D, but that seems like it's putting the cart before the horse. Getting the agency's legal view is important, but you've got to do your own research first.

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Niesha

16 days ago

But wouldn't it also be important to review legal actions against the agency for noncompliance?

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Julianna

17 days ago

Option C seems like the logical first step to me. You need to know what laws and regulations apply before you can assess compliance.

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Clarence

17 days ago

I agree with Kate, having a clear list of laws and regulations is crucial for compliance assessment.

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Kate

20 days ago

I think the first step is to develop an inventory of the applicable laws and regulations.

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