Discuss GFOA CPFO Exam Topic 4 Question 129

Internal controls are the primary responsibility of:

Athe financial systems.

Binternal auditors.

Cmanagement.

Dexternal auditors.

Suggested Answer: C

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21 comments · newest first

Mohammad 2 days ago

True, but they report to management.

Lavera 7 days ago

But what about B) internal auditors? They check the controls.

Angelica 12 days ago

I agree, management sets the tone for controls.

Isaiah 17 days ago

I think it's definitely C) management.

Wynell 23 days ago

Exactly! Without management's commitment, controls fail.

Leontine 28 days ago

Management must implement and monitor controls. That's crucial.

Jeanice 1 month ago

D) external auditors check compliance, but they aren't responsible.

Ena 1 month ago

I feel like A) the financial systems play a role too. They need controls.

Kiley 1 month ago

True, but they report to management. So, management is key.

Viola 2 months ago

But what about B) internal auditors? They ensure controls are effective.

Vallie 2 months ago

Agreed, management has the ultimate responsibility.

Providencia 2 months ago

I think it's definitely C) management. They set the tone.

Rutha 2 months ago

I thought external auditors had more responsibility in this area.

Sabra 2 months ago

Totally agree with C) management! They have the final say.

Marion 2 months ago

Wait, are we sure it's not A) the financial systems?

Harrison 3 months ago

I think B) internal auditors play a big role too.

Kati 3 months ago

Definitely C) management. They set the tone!

Timmy 3 months ago

I feel like this question is similar to one we did in class about the roles of different stakeholders in financial reporting. Management definitely seems like the right answer.

Frederica 3 months ago

I’m a bit confused because I thought internal auditors had a significant role in evaluating controls, but I guess they’re not the primary responsible party?

Angelica 3 months ago

I remember a practice question where it emphasized that management sets the tone for internal controls, so I’m leaning towards option C.

Becky 4 months ago

I think internal controls are mainly the responsibility of management, but I'm not entirely sure if auditors play a bigger role.

GFOA CPFO Exam - Topic 4 Question 129 Discussion