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Which of the following is one of the components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Enterprise Risk Management―Integrating with Strategy and Performance?
Which of the following is one of the components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Enterprise Risk Management―Integrating with Strategy and Performance?A . Event avoidance B. Risk tolerance C. Compliance D. Review and revisionView AnswerAnswer: D
Which of the following is a best practice to ensure a successful fraud reporting program?
Which of the following is a best practice to ensure a successful fraud reporting program?A . The company should communicate that fraud, waste, and abuse are more likely to occur in large organizations than small ones. B. The company should require employees with information about potential fraud to report it...
Stevens, a Certified Fraud Examiner (CFE), was hired to conduct a fraud examination at ABC Company. His examination did not reveal any conclusive evidence that fraud had occurred or was occurring. Consequently, ABC's management asked Stevens to state in his official examination report that the organization is free of fraud as a means of assuring the board of directors that the company's anti-fraud controls were effective. Under the ACFE Code of Professional Ethics. Stevens is permitted to comply with management's request based on the findings of his examination.
Stevens, a Certified Fraud Examiner (CFE), was hired to conduct a fraud examination at ABC Company. His examination did not reveal any conclusive evidence that fraud had occurred or was occurring. Consequently, ABC's management asked Stevens to state in his official examination report that the organization is free of fraud...
Which of the following is NOT among these five components?
According to the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control-integrated Framework (the Framework), there are five interrelated components of a company's internal control. Which of the following is NOT among these five components?A . Monitoring B. Control environment C. Independent oversight D. Information and communicationView AnswerAnswer:...
Having specialized departments within a company often increases the overall risk ot traud by the organization.
Having specialized departments within a company often increases the overall risk ot traud by the organization.A . True B. FalseView AnswerAnswer: B
International Standard on Auditing (ISA) 240 establishes auditors as being primarily responsible for the establishment of anti-fraud internal controls within an organization.
International Standard on Auditing (ISA) 240 establishes auditors as being primarily responsible for the establishment of anti-fraud internal controls within an organization.A . True B. FalseView AnswerAnswer: B
In the area of criminological theory, deterrence is the theory that tries to prevenl crime by using the threat of criminal sanctions.
In the area of criminological theory, deterrence is the theory that tries to prevenl crime by using the threat of criminal sanctions.A . True B. FalseView AnswerAnswer: A
In identifying the inherent fraud risks that could apply to the organization, the fraud risk assessment team should discuss:
In identifying the inherent fraud risks that could apply to the organization, the fraud risk assessment team should discuss:A . The organization's incentive programs B. The possibility of management's override of controls C. Risks to the organization's reputation D. All of the aboveView AnswerAnswer: D
According to the 2020 Report to the Nations, which of the following is the MOST COMMON method by which frauds are detected?
According to the 2020 Report to the Nations, which of the following is the MOST COMMON method by which frauds are detected?A . Internal audit B. Confession C. Tips D. External auditView AnswerAnswer: C
Daniela, an independent Certified Fraud Examiner (CFE), was hired by Charles, executive director of a nonprofit organization, to investigate a straightforward embezzlement case. During the investigation, Daniela learns that Charles is involved in an unrelated fraud.
Daniela, an independent Certified Fraud Examiner (CFE), was hired by Charles, executive director of a nonprofit organization, to investigate a straightforward embezzlement case. During the investigation, Daniela learns that Charles is involved in an unrelated fraud. Under the ACFE Code of Professional Ethics. Daniela should:A . Tell the nonprofit's board...
