Which of the following is also a correct representation of the FMFIA auditor requirements?

• A. SoA, Report on Internal Controls, and Report on Compliance w/Laws and Regs
• B. Audit Opinion, Management Letter, and Financial Forecast
• C. Independent Verification of all transactions
• D. Compliance with Budget Laws Only

Answer: (A)

FMFIA auditor requirements revolve around three linked pieces: management’s Statement of Assurance about internal controls, and two independent auditor reports that evaluate internal controls and compliance with laws and regulations. The correct option matches this structure: the organization provides a SoA, a Report on Internal Controls, and a Report on Compliance with Laws and Regulations. This combination captures both management’s own assessment and the independent evaluations that certify control effectiveness and adherence to laws.

The other options include items not mandated by FMFIA in this trio—for example, a financial forecast or a blanket claim of independent verification of all transactions—so they don’t align with the formal FMFIA reporting framework.