Online Access Free CGFM Practice Test

Management's ability to monitor for financial control weakness is most compromised if

• A.financial data is inaccurate.
• B.theft has occurred.
• C.performance data is inaccurate.
• D.collusion is present.

All of the following represent selection criteria used to make contract awards EXCEPT contractor

• A.union affiliations.
• B.financial position.
• C.past performance records.
• D.staff expertise.

In an attestation engagement, which party would make an assertion about a subject matter?

• A.practitioner
• B.user
• C.auditor
• D.management

Management shoulg consider the cost of internal controls in relationship to

• A.benefits provided.
• B.risk of collusion.
• C.the available budget.
• D.inherent risks.

A single audit report will include an opinion or disclaimer of opinion that the financial statements are

• A.fairly presented in accordance with GAAP.
• B.fairly presented in accordance with GASB.
• C.fairly presented in accordance with GAO.
• D.free from fraud.