ACFE CFE Fraud Prevention and Deterrence Certified Fraud Examiner – Fraud Prevention and Deterrence Exam Online Training
ACFE CFE Fraud Prevention and Deterrence Online Training
The questions for CFE Fraud Prevention and Deterrence were last updated at Apr 23,2024.
- Exam Code: CFE Fraud Prevention and Deterrence
- Exam Name: Certified Fraud Examiner - Fraud Prevention and Deterrence Exam
- Certification Provider: ACFE
- Latest update: Apr 23,2024
According to Silk and Vogel’s research, business leaders rationalize legal violations by asserting that compliance with government regulations is too costly and cuts too heavily into company profits.
- A . True
- B . False
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.
- A . True
- B . False
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 . False
Susannah Is conducting an external audit of a company In a jurisdiction that is subject to International Standards on Auditing (ISAs). While undertaking her audit procedures, she discovers evidence that senior management has been fraudulently manipulating the financial statements.
Which of the following is Susannah’s BEST response to these findings?
- A . Susannah should confront management with her audit findings and try to get a confession.
- B . Susannah should Immediately report her findings to the secunties regulators
- C . Susannah should report her findings to the audit committee of the board of directors.
- D . Susannah should not disclose her findings to any other parties due to client confidentiality.
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 revision
For its compliance program to be effective, an organization must promote the program through appropriate incentives for compliance.
- A . True
- B . False
Which of the following statements is TRUE regarding how fraud examiners should exercise professional skepticism during a fraud examination engagement?
- A . Professional skepticism means beginning all assignments with the belief that something is amiss.
- B . Professional skepticism involves maintaining a mindset that no fraud has occurred
- C . Fraud examiners should form the engagement hypothesis without regard to the available preliminary information.
- D . Fraud examiners should not relax their skeptical attitudes under any circumstances.
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 audit
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as "a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance."
- A . Corporate compliance
- B . Fraud risk management
- C . Risk assessment
- D . Internal control
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 of trustees about Charles
- B . Report Charles to law enforcement
- C . Not disclose the information about Charles.
- D . Resign from the engagement.
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