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GFOA CPFO Exam - Topic 8 Question 2 Discussion

The CFO Act of 1990 mandates all of the following EXCEPT:
D) unqualified audited financial statements.
A) establishment of a leadership structure.
B) provision for long-range planning.
C) strengthening accountability reporting.

GFOA CPFO Exam - Topic 8 Question 2 Discussion

Actual exam question for GFOA's CPFO exam
Question #: 2
Topic #: 8
[All CPFO Questions]

The CFO Act of 1990 mandates all of the following EXCEPT:

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Suggested Answer: D

by Louisa at May 04, 2022, 01:56 PM

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Terrilyn
9 months ago
Leadership structure is a must-have in the Act!
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Craig
9 months ago
Wait, so they don’t require unqualified audits? That seems off.
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Dominga
9 months ago
I thought long-range planning was part of it?
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Luisa
10 months ago
Definitely not about unqualified audited statements!
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Alonso
10 months ago
The CFO Act of 1990 is all about accountability.
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Frederick
10 months ago
I’m pretty certain that the Act emphasizes accountability, but I can't recall if it explicitly mentions long-range planning as a mandate.
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Destiny
10 months ago
I think the Act does require a leadership structure and accountability reporting, but long-range planning seems a bit vague.
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Caprice
10 months ago
I remember the CFO Act focuses on accountability and financial reporting, but I'm not sure if it specifically mandates unqualified audited financial statements.
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Tomoko
10 months ago
I practiced a similar question about the CFO Act, and I feel like the unqualified financial statements might not be a direct requirement.
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Jenelle
10 months ago
Okay, I think I've got a handle on this. Using the order number from the OMS as an external ID seems like a good approach to avoid duplicates.
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Ula
10 months ago
Got it, I think I know the right approach here. Work.com has some great coaching and feedback tools that could really help boost sales performance.
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Shannan
10 months ago
I'm a bit confused by the wording here. The prompt talks about "a standard data format" - does that mean it's not just a general electronic referral system? I'll have to think this through carefully.
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