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AGA CGFM Exam - Topic 3 Question 50 Discussion

Actual exam question for AGA's CGFM exam
Question #: 50
Topic #: 3
[All CGFM Questions]

In a performance aygit, due professional care is used to

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Suggested Answer: D

by Javier at Jul 02, 2024, 05:17 PM

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Pamella
6 months ago
I thought GAAP was the main focus, surprised it's not the top answer!
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Fidelia
6 months ago
C is also important, but A is the key here.
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Sylvia
6 months ago
Wait, can you really determine scope without evidence?
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Melissa
7 months ago
Totally agree with A, it’s all about the evidence!
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Ashlyn
7 months ago
A is correct, you need evidence for a solid audit.
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Barbra
7 months ago
I’m a bit confused; I thought presenting findings according to GAAP was crucial, but I don’t know if that relates directly to professional care.
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Carmelina
7 months ago
Setting materiality seems important, but I feel like it’s more about the overall process rather than just one aspect.
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Xochitl
7 months ago
I remember a practice question that focused on determining scope, but I'm not sure if that's the main point here.
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Latrice
8 months ago
I think professional care is mainly about obtaining sufficient and competent evidence, so I might lean towards A.
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Brice
8 months ago
Wait, is this about the scope of the audit or the presentation of findings? I'm a little confused on which aspect of due professional care this is asking about. Let me think this through step-by-step.
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Amie
8 months ago
Okay, I've got this. Due professional care means obtaining sufficient and competent evidence, so I'll go with option A. Gotta love those audit fundamentals!
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Ilda
8 months ago
Hmm, I'm a bit unsure about this one. The options seem similar, and I want to make sure I understand the difference between them. I'll need to review my notes on performance audits to answer this confidently.
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Marva
8 months ago
This seems like a straightforward question about due professional care in a performance audit. I'll carefully read through the options and choose the one that best describes the requirement.
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Lyndia
8 months ago
Hmm, this looks like a tricky one. I'll need to think carefully about where parameters are typically defined and used.
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Mira
8 months ago
Okay, I think I've got this. The supervisor reviewing and initialing the workpapers is likely the most direct way to ensure the engagement was properly supervised. That's the answer I'm going with.
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Jeannine
1 year ago
You know what they say, 'Due professional care is like a fine wine - it's all about the bouquet of evidence.'
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Gracia
11 months ago
D) present the findings in accordance with GAAP.
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Lawanda
11 months ago
C) set materiality of financial statements.
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Wenona
11 months ago
B) determine scope.
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Dottie
12 months ago
A) obtain sufficient and competent evidence.
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Merrilee
1 year ago
Option B? Really? I've got two words for that: 'Scope creep.' No thank you!
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Bev
1 year ago
This is a classic case of 'the best answer is the one that's most specific to the question.' Option A is the clear winner here.
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Thurman
11 months ago
C) It's important to make sure the evidence gathered is sufficient and competent for a performance audit.
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Luke
11 months ago
B) I agree, option A is definitely the most specific and relevant choice.
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Berry
12 months ago
A) obtain sufficient and competent evidence.
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Anjelica
1 year ago
I'm torn between A and D, but I think A makes the most sense. Presenting the findings in accordance with GAAP is important, but it's not the primary focus of due professional care.
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Arlie
12 months ago
User 3: A is definitely the key here. Without proper evidence, the findings may not be reliable.
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Narcisa
12 months ago
User 2: I agree, A is the correct answer. It's important to have the right evidence to support the findings.
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Kasandra
1 year ago
User 1: I think A makes the most sense. Obtaining sufficient and competent evidence is crucial in a performance audit.
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Roy
1 year ago
Option A is the correct answer. Due professional care is all about gathering sufficient and competent evidence to support the audit findings.
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Fletcher
1 year ago
Option A is the correct answer. Due professional care is all about gathering sufficient and competent evidence to support the audit findings.
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Noel
1 year ago
Actually, it's not about presenting the findings, but rather obtaining the evidence to support them.
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Corazon
1 year ago
D) present the findings in accordance with GAAP.
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Fausto
1 year ago
A) obtain sufficient and competent evidence.
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Pete
1 year ago
That's correct. Due professional care requires auditors to gather enough evidence to support their findings.
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Nida
1 year ago
A) obtain sufficient and competent evidence.
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Shawnna
1 year ago
But what about setting materiality of financial statements? Isn't that important too?
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Alonso
1 year ago
I agree with Francisca, professional care is all about getting the right evidence.
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Francisca
1 year ago
I think the answer is A) obtain sufficient and competent evidence.
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