AGA Exam CGFM Topic 1 Question 36 Discussion

Actual exam question for AGA's CGFM exam

Question #: 36
Topic #: 1

[All CGFM Questions]

For financial audits, generally accepted auditing standards require that auditors accomplish all of the following tasks EXCEPT

Aadequately plan the work.

Bmake the audit report available to the public.

Cobtain sufficient appropriate audit evidence.

Dsupervise any assistants.

Show Suggested Answer

Suggested Answer: A

by Benton at Nov 24, 2023, 01:50 AM

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Jessenia

2 months ago

Hmm, I'm going with B as well. Auditors have enough on their plate without worrying about the paparazzi.

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Salena

2 months ago

Haha, the public? Yeah, right. Auditors keep those reports locked up tighter than Fort Knox.

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Armanda

1 months ago

C) obtain sufficient appropriate audit evidence.

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Stephanie

1 months ago

D) supervise any assistants.

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Dalene

2 months ago

A) adequately plan the work.

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Sherell

3 months ago

Option B seems to be the correct answer. Auditors don't have to publish their reports for the whole world to see.

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Delsie

1 months ago

D) supervise any assistants.

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Trinidad

1 months ago

C) obtain sufficient appropriate audit evidence.

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Yolande

2 months ago

A) adequately plan the work.

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Rikki

3 months ago

Definitely B. Auditors don't have to make the report public, they just need to provide it to the client.

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Terrilyn

3 months ago

I think the answer is B. Making the audit report available to the public is not a requirement under GAAS.

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Wilford

2 months ago

Oh, I see. Thanks for clarifying that.

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Delisa

2 months ago

Actually, the correct answer is B. Making the audit report available to the public is not required.

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Lottie

2 months ago

I think the answer is D. Supervising assistants is a necessary task for auditors.

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Edda

3 months ago

I agree, B is not a requirement under GAAS.

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Sharen

3 months ago

But doesn't the auditor need to supervise assistants as part of the auditing standards?

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Casie

3 months ago

I disagree, I believe the answer is D.

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Sharen

4 months ago

I think the answer is B.

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