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?

Athe awarding agency

Bthe recipient agency

Cthe audit committee

Dthe external auditors

Show Suggested Answer

Suggested Answer: D

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

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Annice

8 months ago

Just to clarify, the audit committee oversees but doesn't resolve.

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Wilbert

8 months ago

Not sure about this, can external auditors really resolve findings?

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Jeff

9 months ago

Wait, I thought the awarding agency had some responsibility too?

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Elza

9 months ago

Totally agree, B is the right answer!

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Josphine

9 months ago

It's definitely the recipient agency that handles those findings.

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Katy

9 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

9 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

9 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

9 months ago

I think the recipient agency is responsible for resolving findings, but I'm not completely sure.

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Madonna

9 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

9 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

10 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

1 year 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

1 year 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

1 year ago

D) the external auditors

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Gerald

1 year ago

C) the audit committee

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Paris

1 year ago

B) the recipient agency

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Ozell

1 year ago

A) the awarding agency

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Lanie

1 year 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

1 year 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

1 year ago

C) the audit committee

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Antonio

1 year ago

B) the recipient agency

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Sabina

1 year 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

1 year 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

1 year 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

1 year ago

Yeah, I agree. The recipient agency is the one accountable for resolving any findings from the single audit.

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Daren

1 year 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

1 year 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

1 year 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

1 year 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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