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AGA Exam CGFM Topic 2 Question 57 Discussion

Actual exam question for AGA's CGFM exam
Question #: 57
Topic #: 2
[All CGFM 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 Ettie at Sep 17, 2024, 10:28 AM

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Lucina
2 months ago
B) is the way to go. Although, with the government, you never know - maybe they'd try to get their own people to do the audit and call it 'independent'.
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Yuriko
1 months ago
Government accountability office might be good, but certified public accounting firm is more common.
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Sabine
1 months ago
Some governments might try to cut corners, but it's crucial to follow regulations.
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Shala
1 months ago
It's important to have an external party to maintain transparency.
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Elizabeth
1 months ago
I agree, having a certified public accounting firm ensures independence.
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Alysa
2 months ago
I was tempted to pick D) None of these, but that seems a bit too easy. I'm sticking with B.
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Haydee
2 months ago
I'm going with B as well. A CPA firm is the industry standard for conducting these types of audits.
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Terrilyn
1 months ago
CPA firms are known for their professionalism and accuracy in financial audits.
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Pamella
1 months ago
I think B is the best option too. They have the expertise needed for this type of work.
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Leigha
2 months ago
I agree, a CPA firm is definitely the way to go for auditing financial statements.
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Mammie
2 months ago
Definitely B. I can't imagine the government auditing itself - that would be like the fox guarding the henhouse!
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Maryann
3 months ago
B) Certified public accounting firm sounds like the right answer. Local governments need to have their finances audited by an independent professional firm.
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Anna
2 months ago
I think it's a necessary step to maintain public trust in the government's financial management.
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Madelyn
2 months ago
Yes, it ensures transparency and accountability in the financial reporting process.
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Margurite
2 months ago
I agree, it's important for local governments to have their finances audited by a certified public accounting firm.
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Tandra
3 months ago
I'm not sure, but I think it's important to have an independent firm like a CPA firm to ensure transparency and accuracy in financial reporting.
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Fannie
3 months ago
I agree with Albina. Local government should hire a CPA firm for financial audits.
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Albina
3 months ago
I think the answer is B) Certified public accounting firm.
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