AGA Exam CGFM Topic 2 Question 52 Discussion

Actual exam question for AGA's CGFM exam

Question #: 52
Topic #: 2

[All CGFM Questions]

The first step in assessing an agency's internal control program's compliance with applicable laws and regulations is

Areview legal actions against the agency for noncompliance with laws and regulations.

Bcontact the legislature to secure its views on any areas of regulatory noncompliance.

Cdevelop an inventory of the applicable laws and regulations.

Drequest a compliance review from the agency's chief legal officer.

Show Suggested Answer

Suggested Answer: D

by Jesusita at Jul 15, 2024, 11:16 PM

Limited Time Offer

25%

Off

Get Premium CGFM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Stevie

6 days ago

I was thinking option D, but that seems like it's putting the cart before the horse. Getting the agency's legal view is important, but you've got to do your own research first.

upvoted 0 times

...

Niesha

7 days ago

But wouldn't it also be important to review legal actions against the agency for noncompliance?

upvoted 0 times

...

Julianna

8 days ago

Option C seems like the logical first step to me. You need to know what laws and regulations apply before you can assess compliance.

upvoted 0 times

...

Clarence

8 days ago

I agree with Kate, having a clear list of laws and regulations is crucial for compliance assessment.

upvoted 0 times

...

Kate

11 days ago

I think the first step is to develop an inventory of the applicable laws and regulations.

upvoted 0 times

...