AGA Exam CGFM Topic 2 Question 56 Discussion

Actual exam question for AGA's CGFM exam

Question #: 56
Topic #: 2

[All CGFM Questions]

In relation to financial reporting, who evaluates internal controls to support an opinion on a fair presentation of the financial statements?

Amanagement

Bthe independent auditor

Cthe program office

Dthe audit committee

Show Suggested Answer

Suggested Answer: B

by Renea at Sep 18, 2024, 08:49 PM

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Jacklyn

2 months ago

Wait, there's an independent auditor in this question? I thought this was a reality TV show where the program office and the audit committee have a dramatic showdown to determine the fate of the financial statements. Surely that's more entertaining than a boring old audit, right?

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Dalene

6 days ago

The program office may be involved in certain aspects, but the independent auditor is key for an unbiased opinion.

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Brett

7 days ago

Management is responsible for implementing and maintaining internal controls.

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Tyisha

8 days ago

I think the audit committee also plays a role in overseeing the process.

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Reita

30 days ago

Yes, the independent auditor evaluates internal controls for financial reporting.

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Florinda

2 months ago

Ooh, this is a tough one! I'm gonna have to go with the independent auditor on this one. Though I'm kinda hoping for a surprise twist where the audit committee shows up dressed as Batman and solves the whole thing.

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Evelynn

2 months ago

Oof, this one's tricky. I mean, management would love to say they're the ones doing the evaluating, but we all know they can't really be trusted to police themselves. Gotta be the independent auditor, hands down.

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France

19 days ago

Definitely, the independent auditor is the one who evaluates internal controls for financial reporting.

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Sharmaine

27 days ago

I agree, management might not be the most reliable source for that.

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Haydee

1 months ago

Management is responsible for evaluating internal controls.

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Filiberto

3 months ago

But isn't it also the audit committee's responsibility to oversee the audit process?

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Cheryll

3 months ago

Hmm, let me think about this... Nah, it can't be the program office, that's just silly. And the audit committee is more like the watchdog, not the one doing the actual evaluation. Yep, the independent auditor is the way to go here.

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Marshall

3 months ago

No, it's the independent auditor.

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Eric

3 months ago

I think it's management.

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Curt

3 months ago

I agree with Larae, the independent auditor evaluates internal controls.

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Coral

3 months ago

Well, this one's a no-brainer! The independent auditor is the one who evaluates internal controls to support their opinion on the financial statements. Gotta love a good ol' fashioned audit!

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