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GFOA CPFO Exam - Topic 2 Question 103 Discussion

An independent auditor has prepared the chart below describing the status of the audit findings requested for an agency over the past four years.Based upon these audit findings which of the following conclusions could be drawn on the agency's internal control framework?
A) The agency is addressing audit findings appropriately.
B) Findings in year 2009 reflect policy improvement.
C) There is ineffective management of the agency.
D) The agency internal control staffing is adequate.

GFOA CPFO Exam - Topic 2 Question 103 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 103
Topic #: 2
[All CPFO Questions]

An independent auditor has prepared the chart below describing the status of the audit findings requested for an agency over the past four years.

Based upon these audit findings which of the following conclusions could be drawn on the agency's internal control framework?

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Suggested Answer: A

by Virgilio at Nov 15, 2024, 09:57 AM

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Bev
10 months ago
Wait, are they really saying staffing is adequate? That seems off.
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Mirta
10 months ago
Totally agree, management needs to step up their game!
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Armanda
10 months ago
Year 2009 shows some improvement, but is it enough?
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William
11 months ago
Not sure if they’re really addressing the issues effectively.
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Cruz
11 months ago
Looks like the agency is making progress over the years.
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Sophia
11 months ago
I’m uncertain about option D; just because there are findings doesn’t necessarily mean staffing is adequate, right?
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Carey
11 months ago
I feel like option B about policy improvement in 2009 might be misleading if the findings haven't really changed since then.
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Joanna
11 months ago
I think we had a practice question that mentioned how consistent findings might suggest management issues, so option C could be a possibility.
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Luz
12 months ago
I remember we discussed how a decrease in findings over the years could indicate that the agency is addressing issues effectively, but I'm not sure if that's the case here.
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Alishia
12 months ago
I think the key here is to look for any trends or patterns in the audit findings. If the number of findings is consistently decreasing, that could indicate the agency is improving its internal controls. But I'll need to double-check the other choices to make sure I'm not missing anything.
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Desmond
12 months ago
Okay, let me think this through step-by-step. The chart shows the number of audit findings decreasing over time, which could suggest the agency is addressing the issues appropriately. But I'll need to consider the other options as well.
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Nikita
12 months ago
Hmm, I'm a bit unsure about this one. The chart shows the audit findings over the past four years, but I'm not sure how to interpret that to draw a conclusion about the agency's internal control framework.
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Rory
12 months ago
This question seems straightforward, I just need to analyze the audit findings chart and determine the best conclusion based on the information provided.
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Viva
1 year ago
Maybe the agency's internal control team is too busy moonlighting as professional jugglers, hence the increasing number of audit findings. I'd go with option C and send them a performance review in the form of a circus ticket.
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Carma
1 year ago
C) There is ineffective management of the agency.
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Elza
1 year ago
B) Findings in year 2009 reflect policy improvement.
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Rosio
1 year ago
A) The agency is addressing audit findings appropriately.
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Levi
1 year ago
Hmm, the agency's internal control team must be slacking off. I bet they're busy playing Tetris during work hours. Option D is clearly not the right answer here.
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Lindsey
1 year ago
The graph shows a clear deterioration in the agency's internal control framework. Option C is the only logical conclusion here. Looks like they need to hire more control freaks, I mean, internal control specialists.
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Gayla
1 year ago
Option C) There is ineffective management of the agency.
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Monroe
1 year ago
Option C) There is ineffective management of the agency.
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Alex
1 year ago
Option C) There is ineffective management of the agency.
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Phuong
1 year ago
Option C) There is ineffective management of the agency.
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Kiley
1 year ago
While option B might be true, the overall trend of increasing audit findings indicates that the agency's internal control framework is not as effective as it should be. I would go with option C.
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Catalina
1 year ago
I think option C is the best choice considering the overall trend of audit findings for the agency.
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Mari
1 year ago
It's concerning to see the number of audit findings increasing over the years, option C does make sense.
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Mike
1 year ago
I agree, option C seems to be the most accurate based on the trend of increasing audit findings.
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Willodean
1 year ago
Even though option B mentions policy improvement, the overall trend suggests that option C is more appropriate.
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Daniel
1 year ago
It's concerning to see the number of audit findings rising over the years, option C does seem like a valid conclusion.
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Mammie
1 year ago
I agree, option C seems to be the most accurate based on the trend of increasing audit findings.
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France
1 year ago
I believe there is ineffective management of the agency based on the chart.
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Detra
1 year ago
The agency seems to be addressing the audit findings, but the consistent increase in the number of findings over the years suggests there may be some issues with their internal control framework. Option A seems like the appropriate choice here.
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Wilson
1 year ago
I think option A is the best choice, it shows that the agency is addressing the findings appropriately.
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Shonda
1 year ago
I agree, the increase in findings over the years is concerning.
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Virgilio
1 year ago
I agree with Iesha, the findings in year 2009 show policy improvement.
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Iesha
1 year ago
I think the agency is addressing audit findings appropriately.
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