Use Real CFE-Fraud-Prevention-and-Deterrence Dumps - ACFE Correct Answers updated on 2021
Certified Fraud Examiner CFE-Fraud-Prevention-and-Deterrence Exam Practice Dumps
NEW QUESTION 29
Which of the following is FALSE regarding fraud examiners responsibilities under the ACFE Code of Professional Ethics?
- A. Confidential information provided to fraud examiners by their clients is considered privileged and therefore legally exempt from disclosure in all circumstances
- B. If fraud examiners become aware of a situation that might appear to others as though they have a conflict of interest they should immediately disclose the situation to company management
- C. Fraud examiners must obtain and document evidence in a manner that ensures that the chain of custody is preserved
- D. In determining what information to include in a fraud examination report, fraud examiners should try to decide what users will consider important and material
Answer: D
NEW QUESTION 30
Glenda. an internal auditor, and Bridgette. an accounts receivable clerk, have had several heated disagreements over accounting procedures and policies Glenda has just been told that she will be the lead on the company s fraud risk assessment. During the fraud risk assessment. Glenda should:
- A. Include her disagreements with Bridgette as a factor when assessing the risk of fraud in the accounts receivable department
- B. Have someone else perform the fraud risk assessment work related to the accounts receivable departments activities
- C. Confront Bridgette about the disagreements and discuss how they increase the departments risk of fraud
- D. Automatically designate the accounts receivable department as a high-risk area
Answer: C
NEW QUESTION 31
Which of the following statements about the fraud risk assessment process is MOST ACCURATE"?
- A. The fraud risk assessment is most effective when management s influence on the process is limited.
- B. If the individuals conducting the fraud risk assessment truly believe that fraud could not happen at the organization the assessment process should reflect that belief.
- C. The assessment team must be perceived as independent and objective by others for the assessment to be effective
- D. To ensure the independence of the team members a fraud risk assessment must be conducted by a consultant or other external party.
Answer: D
NEW QUESTION 32
International Standard on Auditing (ISA) 240 establishes auditors as being primarily responsible for the prevention and detection of fraud within an organization
- A. False
- B. True
Answer: A
NEW QUESTION 33
According to the 2018 Report to the Nations.___________schemes are the most common form of occupational fraud, while_________schemes are the costliest form of occupational fraud
- A. Corruption; asset misappropriation
- B. Asset misappropriation; corruption
- C. Financial statement fraud, corruption
- D. Asset misappropriation; financial statement fraud
Answer: B
NEW QUESTION 34
According to the 2018 Report to the Nations, which of the following is the most common method by which frauds are detected?
- A. Confession
- B. Tips
- C. Internal audit
- D. External audit
Answer: B
NEW QUESTION 35
During the course of a fraud examination. Stefan, an employee of Acme Inc., approaches Marten, a Certified Fraud Examiner (CFE) and fellow employee of Acme, and tells him that he knows of a major fraud being committed by the chief financial officer (CFO). However. Stefan says he can only provide details if Marten promises him absolute confidentiality. How should Marten respond?
- A. Not agree to the request for confidentiality
- B. Tell Stefan that he will try to keep the information as confidential as possible
- C. Agree that the information will be held in confidence, even though Marten knows it will not be
- D. Take Stefan's request straight to Acme Inc.'s management
Answer: B
NEW QUESTION 36
The theory of differential association is used frequently to explain white-collar criminality Which of the following is NOT one of the assertions or principles of differential association?
- A. Criminal behavior is acquired through participation with intimate personal groups
- B. Criminal behavior is learned using the same mechanisms as other learning
- C. The process of learning criminal behavior Is the same as pure imitation
- D. Criminal behavior is learned from other people in a process of communication
Answer: A
NEW QUESTION 37
Criminologist Charles McCaghy has slated that profit pressure is the single most compelling factor behind deviance by organizations
- A. True
- B. False
Answer: A
NEW QUESTION 38
Which of the following best describes the purpose of The National Commission on Fraudulent Financial Reporting (the Treadway Commission)?
- A. Studying the effect of the threat of vicarious liability on the behavior of corporate executives
- B. Defining the responsibility of the auditor in preventing and detecting fraud
- C. Designing a model corporate compliance program
- D. Determining the specific requirements of the Principles of Risk Management
Answer: B
NEW QUESTION 39
The International Organization of Securities Commissions' (IOSCO) Principles for Auditor Oversight states that auditor oversight should involve a regular review process designed to ascertain whether audit firms adhere to quality control policies and procedures.
- A. True
- B. False
Answer: A
NEW QUESTION 40
Article II of the ACFE Code of Professional Ethics prohibits illegal or unethical conduct, but it allows exceptions for unknowing violations of the law
- A. False
- B. True
Answer: A
NEW QUESTION 41
Which of the following principles of corporate governance pertains to the duty of the organization to act in the best interest of society?
- A. Accountability
- B. Transparency
- C. Fairness
- D. Responsibility
Answer: C
NEW QUESTION 42
White, a Certified Fraud Examiner (CFE). was hired to conduct a fraud examination. She did not find fraud, but. in White's opinion, there were several internal control deficiencies that, if not remediated, could facilitate the occurrence of fraud. Under the ACFE Code of Professional Ethics. White may include her opinion on the controls in her report to management
- A. True
- B. False
Answer: A
NEW QUESTION 43
Gray, an independent Certified Fraud Examiner (CFE). was hired by Green president of the ABC Corporation, to investigate allegations that one oi ABC s employees is taking kickbacks. During the investigation. Gray learns that Green is involved in an unrelated fraud. Under the ACFE Code of Professional Ethics. Gray should:
- A. Tell the company's board of directors about Green
- B. Report Green to law enforcement.
- C. Resign from the engagement
- D. Not disclose the information about Green.
Answer: B
NEW QUESTION 44
According to the differential reinforcement theory, behavior is weakened when positive rewards are gained or punishment is avoided
- A. True
- B. False
Answer: A
NEW QUESTION 45
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