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

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Micah

4 months ago

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

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Noah

4 months ago

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

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Leana

4 months ago

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

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Tyra

4 months ago

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

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Princess

4 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.

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Rupert

5 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.

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Devora

5 months ago

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

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Ozell

3 months ago

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

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Sharee

3 months ago

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

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Tegan

4 months ago

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

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Silvana

4 months ago

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

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Nieves

5 months ago

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

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Cyril

5 months ago

B) Sample

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Arlette

5 months ago

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

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Selma

5 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?'

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Cordell

5 months ago

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

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Benedict

5 months ago

C) Material misstatement

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Ollie

5 months ago

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

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Ressie

5 months ago

A) Reasonable assurance

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Garry

6 months ago

A) Reasonable assurance

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