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AGA Exam CGFM Topic 2 Question 37 Discussion

Actual exam question for AGA's CGFM exam
Question #: 37
Topic #: 2
[All CGFM Questions]

When considering materiality during the planning phase for the field work for a financial audit, the dollar threshold for materiality is determined by the

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Suggested Answer: D

by Lucy at Dec 14, 2023, 02:46 PM

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Aide
29 days ago
Wait, is the auditor supposed to just roll a dice to determine the materiality threshold? Seems like a risky move to me.
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Sharita
1 days ago
A) auditor.
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Gail
1 months ago
C'mon, it's gotta be the auditor in consultation with the auditee. They need to work together on this, don't they?
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Chandra
1 months ago
Ooh, I bet the audit committee has the final say on this. They're the ones keeping an eye on the whole process.
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Blair
1 months ago
Hmm, I'm not sure about that. Shouldn't the auditee have a say in this? They know their business best, right?
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Magda
1 months ago
A) auditor.
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Goldie
2 months ago
I think the auditor should determine the materiality threshold based on their professional judgment. After all, they're the experts in this field.
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Virgie
9 days ago
Yes, the auditor plays a crucial role in setting the materiality threshold for the financial audit.
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Thurman
13 days ago
I agree, the auditor is the one with the expertise to determine the materiality threshold.
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Dino
28 days ago
Yes, it makes sense for the auditor to use their professional judgment in setting the materiality threshold.
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Catrice
1 months ago
I agree, the auditor is the one with the expertise to determine the materiality threshold.
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Miriam
2 months ago
Actually, the auditor determines materiality in consultation with the auditee to ensure accuracy.
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Queen
2 months ago
I agree with Latanya, the auditor is responsible for determining materiality.
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Latanya
2 months ago
I think the dollar threshold for materiality is determined by the auditor.
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