AGA Exam CGFM Topic 2 Question 56 Discussion

Actual exam question for AGA's CGFM exam

Question #: 56
Topic #: 2

[All CGFM Questions]

In relation to financial reporting, who evaluates internal controls to support an opinion on a fair presentation of the financial statements?

Amanagement

Bthe independent auditor

Cthe program office

Dthe audit committee

Show Suggested Answer

Suggested Answer: B

by Renea at Sep 18, 2024, 08:49 PM

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Filiberto

13 days ago

But isn't it also the audit committee's responsibility to oversee the audit process?

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Hmm, let me think about this... Nah, it can't be the program office, that's just silly. And the audit committee is more like the watchdog, not the one doing the actual evaluation. Yep, the independent auditor is the way to go here.

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Curt

15 days ago

I agree with Larae, the independent auditor evaluates internal controls.

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Coral

17 days ago

Well, this one's a no-brainer! The independent auditor is the one who evaluates internal controls to support their opinion on the financial statements. Gotta love a good ol' fashioned audit!

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Larae

20 days ago

I think it's the independent auditor.

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AGA Exam CGFM Topic 2 Question 56 Discussion

Contribute your Thoughts:

Filiberto

Cheryll

Curt

Coral

Larae