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            Financial



            CGFM







            Certified Government Financial Manager (CGFM)










            https://killexams.com/pass4sure/exam-detail/CGFM










                   QUESTION: 198
                   Most States require that local government engage the services of an _________ firm to
                   audit their financial statements.



                   A. Government accountability office
                   B. Certified public accounting firm
                   C. Government finance officers association
                   D. None of these




                   Answer: B



                   QUESTION: 199
                   The auditor(s) should:
                   I- Adequately plan the work and properly supervise assistants
                   II- Properly study internal accounting controls to determine their reliability


                   These points are the part of

                   A. General Standards
                   B. Field work Standards
                   C. Reporting Standards
                   D. All of these



                   Answer: B


                   QUESTION: 200
                   The auditors provide _______________ of the reliability of the financial statements.

                   A. Reasonable assurance
                   B. Sample
                   C. Material misstatement
                   D. None of these



                   Answer: A


                   QUESTION: 201
                   Which of the  following opinions is  not  expressed by auditors as to  whether  financial
                   statements are expressed fairly in all material respects with respect to generally accepted
                   accounting principles?








                   A. Unqualified opinion
                   B. Qualified opinion
                   C. Disclaimer
                   D. Reversal opinion



                   Answer: D


                   QUESTION: 202
                   If a reportable condition might result in a material misstatement of financial statements,
                   then it must be noted as a:

                   A. Material weakness
                   B. Unqualified report
                   C. Revised situation
                   D. Adverse condition



                   Answer: A


                   QUESTION: 203
                   Which of the following danger sign/s help to detect Auditors’ fraud?

                   A. Borrowing small amounts from fellow employees
                   B. Pronounced criticism of others, endearing to divert suspicion
                   C. Replying to Questions with unreasonable explanations
                   D. All of these



                   Answer: D








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