SOFE Exam SOFA-CFE Topic 2 Question 98 Discussion

Actual exam question for SOFE's SOFA-CFE exam

Question #: 98
Topic #: 2

What needs to understand and assess this environment and the system of internal controls so it can exercise effective oversight?

AFinancial reporting

BAudit Committee

CInventory control

DBusiness Assessment

Show Suggested Answer

Suggested Answer: D

by Dannette at Sep 13, 2024, 03:25 PM

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8 days ago

But wouldn't Financial reporting also be important for effective oversight?

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10 days ago

I agree with Mitsue. The Audit Committee plays a crucial role in overseeing the system of internal controls.

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10 days ago

I thought the inventory control team was responsible for this. Guess I need to brush up on my corporate governance knowledge.

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12 days ago

The audit committee needs to understand and assess the environment and internal controls to provide effective oversight. B is the correct answer.

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17 days ago

I think the Audit Committee needs to understand and assess the environment and internal controls.

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