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AGA CGFM Exam - Topic 1 Question 36 Discussion

For financial audits, generally accepted auditing standards require that auditors accomplish all of the following tasks EXCEPT
A) adequately plan the work.
B) make the audit report available to the public.
C) obtain sufficient appropriate audit evidence.
D) supervise any assistants.

AGA CGFM Exam - 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

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Suggested Answer: A

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

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Bettina
7 months ago
Planning and evidence are crucial, but public reports? Nah.
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Frankie
8 months ago
D is also not a requirement, but B is the clear choice.
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Herminia
8 months ago
Wait, are you sure about that? I thought all reports had to be public.
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Sue
8 months ago
Totally agree, B is definitely the exception here!
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Nan
8 months ago
B is the correct answer. Auditors don't have to make reports public.
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Sherman
9 months ago
I vaguely recall that obtaining sufficient evidence is crucial for audits, so that rules out C. I might go with B as the exception.
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Sylvia
9 months ago
I practiced a similar question where we had to identify tasks that aren't mandatory. I think supervising assistants is important, so I'm leaning towards D.
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Margarita
9 months ago
I'm not entirely sure, but I feel like making the audit report public isn't a standard requirement for all audits. Maybe it's B?
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Royce
9 months ago
I remember we discussed that auditors need to plan their work, so I think A is definitely required.
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Arthur
9 months ago
This seems straightforward. I'm pretty confident I know the auditing standards well enough to identify the task that is not required.
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Blondell
9 months ago
I'm a bit unsure about this one. I'll need to review my notes on generally accepted auditing standards to make sure I don't miss anything.
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Talia
9 months ago
I've got a good handle on auditing standards, so I think I can tackle this. I'll just need to double-check my understanding of the requirements.
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Stephaine
9 months ago
Hmm, this is a tricky one. I'll need to think carefully about the auditing standards and which tasks are required versus optional.
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Mabelle
9 months ago
Okay, let's see. The question is asking which task is NOT required, so I'll need to analyze each option and determine which one is the exception.
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Katina
9 months ago
Okay, I've got this. The three functions are Supplicant Provisioning, Device Registration, and Certificate Enrollment. ISE is all about managing and securing BYOD devices, so those are the key steps in the BYOD flow.
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Yvette
9 months ago
Alright, let me think this through. The question is asking about a valid constraint or feature, so I need to carefully analyze each option to determine which one best fits the requirements. I'll start by eliminating any options that don't seem relevant.
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Shasta
10 months ago
Option B looks most solid. Think about corporate fraud cases - they rarely end up in prison, it's mostly about financial settlements and fines.
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Jessenia
1 year 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
1 year ago
Haha, the public? Yeah, right. Auditors keep those reports locked up tighter than Fort Knox.
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Armanda
1 year ago
C) obtain sufficient appropriate audit evidence.
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Stephanie
1 year ago
D) supervise any assistants.
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Dalene
1 year ago
A) adequately plan the work.
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Sherell
1 year 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 year ago
D) supervise any assistants.
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Trinidad
1 year ago
C) obtain sufficient appropriate audit evidence.
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Yolande
1 year ago
A) adequately plan the work.
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Rikki
1 year 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
1 year 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
1 year ago
Oh, I see. Thanks for clarifying that.
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Delisa
1 year ago
Actually, the correct answer is B. Making the audit report available to the public is not required.
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Lottie
1 year ago
I think the answer is D. Supervising assistants is a necessary task for auditors.
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Edda
1 year ago
I agree, B is not a requirement under GAAS.
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Sharen
1 year ago
But doesn't the auditor need to supervise assistants as part of the auditing standards?
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Casie
1 year ago
I disagree, I believe the answer is D.
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Sharen
1 year ago
I think the answer is B.
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