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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
6 months ago
Just to clarify, the audit committee oversees but doesn't resolve.
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Wilbert
6 months ago
Not sure about this, can external auditors really resolve findings?
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Jeff
6 months ago
Wait, I thought the awarding agency had some responsibility too?
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Elza
7 months ago
Totally agree, B is the right answer!
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Josphine
7 months ago
It's definitely the recipient agency that handles those findings.
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Katy
7 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
7 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
7 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
7 months ago
I think the recipient agency is responsible for resolving findings, but I'm not completely sure.
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Madonna
7 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
7 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
7 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
12 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
12 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
11 months ago
D) the external auditors
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Gerald
11 months ago
C) the audit committee
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Paris
11 months ago
B) the recipient agency
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Ozell
11 months ago
A) the awarding agency
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Lanie
12 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
12 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
11 months ago
C) the audit committee
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Antonio
11 months ago
B) the recipient agency
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Sabina
11 months ago
A) the awarding agency
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Buck
1 year 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
11 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
11 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
11 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
11 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
12 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
12 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
1 year ago
Yeah, I agree. The recipient agency is ultimately accountable for resolving any findings identified during the audit.
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Afton
1 year 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
1 year 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
12 months ago
B) the recipient agency
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Billi
1 year ago
That makes sense, they would have the most oversight.
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Daryl
1 year ago
A) the awarding agency
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Gilberto
1 year ago
But the external auditors also play a role in resolving single audit findings.
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Howard
1 year ago
I disagree, I believe it's the audit committee.
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Gilberto
1 year ago
I think it's the recipient agency.
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