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SOFE Exam SOFA-CFE Topic 2 Question 98 Discussion

Actual exam question for SOFE's SOFA-CFE exam
Question #: 98
Topic #: 2
[All SOFA-CFE Questions]

What needs to understand and assess this environment and the system of internal controls so it can exercise effective oversight?

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Suggested Answer: D

by Dannette at Sep 13, 2024, 03:25 PM

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Hoa
17 days ago
Wait, there's an 'audit committee'? I thought the auditors just showed up, drank all the coffee, and left a huge bill.
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Sheridan
27 days ago
Ah, the age-old battle between finance and operations. The audit committee always seems to come out on top though.
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Carin
28 days ago
Business assessment? Sounds like a job for the consultants. The audit committee is where it's at for this one.
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Deonna
1 days ago
Financial reporting
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Oliva
20 days ago
Audit Committee
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Carolann
1 months ago
But wouldn't Financial reporting also be important for effective oversight?
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Gerri
2 months ago
I agree with Mitsue. The Audit Committee plays a crucial role in overseeing the system of internal controls.
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Kate
2 months ago
I thought the inventory control team was responsible for this. Guess I need to brush up on my corporate governance knowledge.
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Mike
3 days ago
Yes, they work closely with the inventory control team to ensure accuracy.
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Barrie
7 days ago
The audit committee plays a key role in overseeing the internal controls.
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Darrin
8 days ago
D) Business Assessment
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Jose
9 days ago
C) Inventory control
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Zona
13 days ago
B) Audit Committee
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Dorethea
23 days ago
A) Financial reporting
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Pamela
2 months ago
The audit committee needs to understand and assess the environment and internal controls to provide effective oversight. B is the correct answer.
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Mitsue
2 months ago
I think the Audit Committee needs to understand and assess the environment and internal controls.
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