AGA Exam CGFM Topic 4 Question 20 Discussion

Actual exam question for AGA's CGFM exam

Question #: 20
Topic #: 4

[All CGFM Questions]

Who holds primary responsibility for establishing internal controls?

Accountants

Binternal auditors

Cmanagement

Daudit committee

Show Suggested Answer

Suggested Answer: D

by Joni at Nov 19, 2022, 06:57 PM

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Scarlet

1 months ago

Wait, the audit committee? That's a good one! I bet the person who wrote this question is trying to trick us. Nope, it's gotta be C.

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Clement

3 days ago

Yeah, I agree. It's definitely not the audit committee.

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Osvaldo

7 days ago

I think you're right, management is usually responsible for establishing internal controls.

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Aimee

12 days ago

C) management

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Carmen

2 months ago

Haha, the accountants? Really? Like they have time to worry about anything other than crunching numbers all day. Definitely C!

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Flo

2 months ago

Hmm, this one's a toughie. But I think C is the right answer. Management's gotta be the ones in charge of that stuff.

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Linn

22 days ago

Accountants may be involved in implementing internal controls, but management ultimately holds primary responsibility.

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Ligia

27 days ago

I think internal auditors also play a role in establishing internal controls.

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Verlene

28 days ago

I agree, management is definitely responsible for establishing internal controls.

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Ma

2 months ago

I'm pretty sure the answer is C. Management has to take responsibility for the internal controls, not the accountants or auditors.

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Jose

20 days ago

It's definitely management. They are the ones who need to ensure internal controls are in place.

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Lashon

1 months ago

Yes, management is the one who holds primary responsibility for internal controls.

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Rolande

2 months ago

I think you're right. Management is responsible for establishing internal controls.

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Milly

2 months ago

Of course it's management! They're the ones running the show, so they need to make sure the controls are in place.

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Teddy

1 months ago

Accountants may assist in implementing controls, but management is the one accountable.

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Telma

2 months ago

Yes, management is ultimately responsible for ensuring the controls are in place.

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Mozelle

2 months ago

Management holds primary responsibility for establishing internal controls.

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Irma

2 months ago

But doesn't the audit committee also play a role in overseeing internal controls?

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Quentin

2 months ago

I agree with Elza, management is in charge of establishing internal controls.

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Elza

2 months ago

I think management holds primary responsibility.

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