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AGA CGFM Exam - Topic 3 Question 18 Discussion

Actual exam question for AGA's CGFM exam
Question #: 18
Topic #: 3
[All CGFM Questions]

Who is responsible for resolving single audit findings?

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Suggested Answer: D

by Matthew at Oct 16, 2022, 09:18 AM

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Annice
4 months ago
Just to clarify, the audit committee oversees but doesn't resolve.
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Wilbert
4 months ago
Not sure about this, can external auditors really resolve findings?
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Jeff
4 months ago
Wait, I thought the awarding agency had some responsibility too?
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Elza
4 months ago
Totally agree, B is the right answer!
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Josphine
4 months ago
It's definitely the recipient agency that handles those findings.
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Katy
5 months ago
I honestly can’t remember if it’s the external auditors or the recipient agency. This is tricky!
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Erinn
5 months ago
I’m leaning towards the recipient agency too, but I could see how the audit committee might play a role in addressing findings.
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Fausto
5 months ago
I remember a practice question where the awarding agency was mentioned, but I feel like that was more about oversight than resolution.
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Deonna
5 months ago
I think the recipient agency is responsible for resolving findings, but I'm not completely sure.
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Madonna
5 months ago
Hmm, I'm a bit stumped. I'll have to eliminate the options I'm more confident about and take a guess on the one that seems least likely to be a real virus type.
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Tawny
5 months ago
Hmm, this one seems straightforward. I think I'll go with options A and B - upload the program data using the NPSP Data Importer and the client data using the Data Import Wizard.
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Adolph
5 months ago
I feel like business growth is important, but if they want to reduce CO2, maybe sustainability and cost efficiency are the better options.
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Ilona
9 months ago
I'd say the recipient agency is responsible, but they should probably call in the Ghostbusters to help out. Those audit findings can be pretty spooky.
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Dominga
9 months ago
Hmm, this is a tough one. Maybe the audit committee can get the recipient agency and the external auditors to work together on it. It'll be like a bureaucratic dance-off!
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Delsie
8 months ago
D) the external auditors
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Gerald
8 months ago
C) the audit committee
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Paris
8 months ago
B) the recipient agency
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Ozell
9 months ago
A) the awarding agency
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Lanie
9 months ago
The external auditors should be the ones to resolve the findings. They're the ones who conducted the audit, so they should know what needs to be done.
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Kirk
10 months ago
The audit committee should be responsible for resolving the findings. They're the ones who oversee the audit process.
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Gladis
8 months ago
C) the audit committee
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Antonio
9 months ago
B) the recipient agency
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Sabina
9 months ago
A) the awarding agency
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Buck
10 months ago
I'm going with the recipient agency on this one. They're the ones who need to address any issues found during the audit.
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Beth
8 months ago
I'm pretty sure it's the recipient agency. They have the most direct responsibility for the funds and how they were used.
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Michell
8 months ago
It makes sense that the recipient agency would be the one to address the audit findings. They're the ones who are directly involved.
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Delsie
9 months ago
Yeah, I agree. The recipient agency is the one accountable for resolving any findings from the single audit.
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Daren
9 months ago
I think it's the recipient agency too. They're the ones who received the funds and are responsible for how it was used.
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Stephaine
9 months ago
I'm leaning towards the recipient agency as well. They have the most direct involvement in the audit process.
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Martha
10 months ago
It makes sense that the recipient agency would be responsible. They're the ones who are directly impacted by the audit results.
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Cassie
10 months ago
Yeah, I agree. The recipient agency is ultimately accountable for resolving any findings identified during the audit.
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Afton
10 months ago
I think it's the recipient agency too. They're the ones who received the funding and are responsible for ensuring compliance.
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Christiane
10 months ago
The awarding agency seems like the logical choice since they're the ones who provided the funding in the first place.
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Buddy
9 months ago
B) the recipient agency
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Billi
10 months ago
That makes sense, they would have the most oversight.
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Daryl
10 months ago
A) the awarding agency
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Gilberto
10 months ago
But the external auditors also play a role in resolving single audit findings.
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Howard
11 months ago
I disagree, I believe it's the audit committee.
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Gilberto
11 months ago
I think it's the recipient agency.
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