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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Jacklyn

29 days ago

Wait, there's an independent auditor in this question? I thought this was a reality TV show where the program office and the audit committee have a dramatic showdown to determine the fate of the financial statements. Surely that's more entertaining than a boring old audit, right?

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Florinda

1 months ago

Ooh, this is a tough one! I'm gonna have to go with the independent auditor on this one. Though I'm kinda hoping for a surprise twist where the audit committee shows up dressed as Batman and solves the whole thing.

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Evelynn

1 months ago

Oof, this one's tricky. I mean, management would love to say they're the ones doing the evaluating, but we all know they can't really be trusted to police themselves. Gotta be the independent auditor, hands down.

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Haydee

8 days ago

Management is responsible for evaluating internal controls.

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Filiberto

2 months ago

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

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2 months ago

I think it's the independent auditor.

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