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GFOA CPFO Exam - Topic 6 Question 55 Discussion

Most States require that local government engage the services of an _________ firm to audit their financial statements.
B) Certified public accounting firm
A) Government accountability office
C) Government finance officers association
D) None of these

GFOA CPFO Exam - Topic 6 Question 55 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 55
Topic #: 6
[All CPFO Questions]

Most States require that local government engage the services of an _________ firm to audit their financial statements.

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Suggested Answer: B

by Dalene at Jul 22, 2022, 07:27 PM

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Elmira
11 months ago
Nah, it's definitely not "None of these."
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Talia
11 months ago
I thought it was the Government accountability office.
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Carlota
11 months ago
Wait, are you sure? I thought it could be other options too.
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Helene
11 months ago
Agreed, that's the standard practice.
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Germaine
12 months ago
Definitely a certified public accounting firm!
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Iesha
12 months ago
I’m pretty confident it’s B too. Most states do require a CPA for audits, but I hope I’m not mixing it up with something else I studied!
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Destiny
12 months ago
I’m torn between A and B. I feel like both could be relevant, but I lean towards B since it specifically mentions CPA.
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Gabriele
12 months ago
I remember practicing a question like this, and I think local governments typically do need an independent auditor, which points to B as well.
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Noble
12 months ago
I think the answer might be B, Certified public accounting firm, but I'm not completely sure.
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Shizue
1 year ago
Hmm, I'm a bit unsure about this one. The requirements mention parsing logs and identifying root causes, but I'm not sure if synthetic monitoring is the best fit. Maybe analytics or alert management would be a better approach to really dig into the data and pinpoint problems. I'll have to think this through a bit more.
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Reita
1 year ago
I remember practicing a similar question, and I think option D is important because not having to do a self-assessment tax return can save a lot of time.
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Ryann
1 year ago
Hmm, I'm a bit stuck on this one. The fact that the operations partner doesn't use Google Accounts makes it a bit tricky. I'm not sure if the VPN or SSH key options would work well in this case. I'll need to think it through a bit more.
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