AGA Exam CGFM Topic 3 Question 55 Discussion

Actual exam question for AGA's CGFM exam

Question #: 55
Topic #: 3

[All CGFM Questions]

The auditors provide _______________ of the reliability of the financial statements.

AReasonable assurance

BSample

CMaterial misstatement

DNone of these

Show Suggested Answer

Suggested Answer: A

by Blossom at Sep 09, 2024, 03:01 PM

Limited Time Offer

25%

Off

Get Premium CGFM Questions as Interactive Web-Based Practice Test or PDF

Contribute your Thoughts:

Submit Cancel

Micah

1 months ago

Sample? What is this, a taste test for the financial statements? I'll stick with A, the safe bet.

upvoted 0 times

Noah

9 days ago

I'm not sure, but I think C) Material misstatement is something they look for.

upvoted 0 times

...

Leana

11 days ago

I think auditors use samples to check for errors in the financial statements.

upvoted 0 times

...

Tyra

13 days ago

I agree, A) Reasonable assurance is the safe choice.

upvoted 0 times

...

Princess

1 months ago

This question is as clear as mud. But hey, at least the auditors aren't asking us to do the actual audit, right? A sounds good to me.

upvoted 0 times

...

Rupert

1 months ago

None of these? What, are the auditors just going to show up, shrug their shoulders, and leave? I think A is the clear winner here.

upvoted 0 times

...

Devora

2 months ago

Material misstatement? Nah, that's just the auditors' way of saying 'oops, we messed up' right? I'll go with A.

upvoted 0 times

Ozell

3 days ago

Definitely, auditors strive to give reasonable assurance on the financial statements. Material misstatement is just a fancy term for errors.

upvoted 0 times

...

Sharee

5 days ago

So, A) Reasonable assurance is the correct answer. It's about ensuring that the financial statements are reliable.

upvoted 0 times

...

Tegan

14 days ago

I agree, reasonable assurance is what auditors aim to provide. It's all about giving confidence in the accuracy of the financial statements.

upvoted 0 times

...

Silvana

19 days ago

Yeah, material misstatement is basically when they find errors in the financial statements. I think A sounds more professional though.

upvoted 0 times

...

Nieves

2 months ago

I believe auditors use sampling techniques to gather evidence for their assessment.

upvoted 0 times

...

Cyril

2 months ago

B) Sample

upvoted 0 times

...

Arlette

2 months ago

I think the auditors provide reasonable assurance to ensure the reliability of the financial statements.

upvoted 0 times

...

Selma

2 months ago

Reasonable assurance? That's the whole point of an audit, isn't it? I mean, who wants to hear 'we kind of think the numbers are right, maybe?'

upvoted 0 times

Cordell

1 months ago

Yes, auditors also look for material misstatements during the audit process to provide accurate information.

upvoted 0 times

...

Benedict

1 months ago

C) Material misstatement

upvoted 0 times

...

Ollie

1 months ago

Exactly, auditors provide reasonable assurance to ensure the reliability of the financial statements.

upvoted 0 times

...

Ressie

2 months ago

A) Reasonable assurance

upvoted 0 times

...

Garry

2 months ago

A) Reasonable assurance

upvoted 0 times

...