CFE-Fraud-Prevention-and-Deterrence Exam Preparation Material with New CFE-Fraud-Prevention-and-Deterrence Dumps Questions [Q48-Q63]

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CFE-Fraud-Prevention-and-Deterrence Exam Preparation Material with New CFE-Fraud-Prevention-and-Deterrence Dumps Questions

CFE-Fraud-Prevention-and-Deterrence 2022 Training With 99 QA’s

NEW QUESTION 48
In the context of fraud examination, integrity requires all of the following EXCEPT:

Subordination of desires for personal gain to the interests of clients, employers, and the public

Avoidance of differences of opinion

Independence of mental attitude

An ability to analyze situations where no professional rules are specifically applicable and determine right from wrong

NEW QUESTION 49
An effective system of internal controls:

Decreases the perception that fraud will be detected

Focuses more on detective controls than preventive controls

Focuses more on preventive controls than detective controls

Does not completely eliminate the risk of fraud

NEW QUESTION 50
Which of the following is FALSE regarding the fraud risk assessment team?

The team members should have experience in gathering and eliciting information

The team size should be limited to a maximum of three individuals.

The team members might include both internal and external sources

The team should consist of individuals with diverse knowledge, skills, and perspectives.

NEW QUESTION 51
A corporation can generally be held criminally responsible for criminal acts committed by its employees even if those in management had no knowledge of or participation in the underlying events.

True

False

NEW QUESTION 52
Which of the following is FALSE regarding proactive fraud auditing procedures?

Implementing proactive fraud audit procedures demonstrates management’s intention to aggressively seek out possible fraudulent conduct

Fraud audit procedures should be designed to incorporate an element of surprise.

Analytical review of the financial statements is best used to uncover small frauds that might be missed by other detection methods

Fraud assessment questioning techniques are most appropriately used as part of the normal audit process

NEW QUESTION 53
According to International Organization for Standardization (ISO) 31000 2018. an organization’s risk management program should be proportionate to the organization s specific operations and objectives.

True

False

NEW QUESTION 54
Maria conducted a fraud examination that led to a valid confession of guilt from Rita. In Maria’s verbal report to her superiors, she stated that, in her opinion. “Rita is guilty of embezzlement.” Maria has just violated the ACFE Code of Professional Ethics.

True

False

NEW QUESTION 55
According to Silk and Vogel’s research, business leaders rationalize legal violations by asserting that the damage done by the violations is diffused among a large number of parties.

True

False

NEW QUESTION 56
According to the authors of Crimes of the Middle Classes, all of the following factors have contributed to the rising problem of economic crime EXCEPT:

The continued pressures of a culture that rewards affluence and success

The economy’s increased reliance on credit

The decrease in funds available from government assistance programs

The increased opportunity for wrongdoing as a result of advancing information technologies

NEW QUESTION 57
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

True

False

NEW QUESTION 58
Which of the following is among the audit committee s primary responsibilities related to fraud risk management?

Understanding how internal and external audit strategies address fraud risk

Designing the fraud risk management program

Punishing fraud perpetrators discovered through fraud risk management activities

Implementing the fraud risk management program

NEW QUESTION 59
Effective risk management involves balancing which of the following?

The organization s internal controls and its financial goals

The organization s financial reporting model and its risk tolerance

The organization s regulatory requirements and its available resources

The organization s risk appetite and its ability to meet its objectives

NEW QUESTION 60
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:

Include her disagreements with Bridgette as a factor when assessing the risk of fraud in the accounts receivable department

Automatically designate the accounts receivable department as a high-risk area

Confront Bridgette about the disagreements and discuss how they increase the departments risk of fraud

Have someone else perform the fraud risk assessment work related to the accounts receivable departments activities

NEW QUESTION 61
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?

Ethical culture

Risk assessment

Control activities

Monitoring

NEW QUESTION 62
Sofia, a Certified Fraud Examiner (CFE). look an introductory class in computer forensics When a client thought there might be evidence of a crime on his hard drive. Sofia decided to conduct a forensic examination of the hard drive even though she had no experience or advanced training in this area Sofia’s conduct would likely be a violation of the ACFE Code of Professional Ethics

True

False

NEW QUESTION 63
Which of the following is FALSE regarding fraud examiners responsibilities under the ACFE Code of Professional Ethics?

Confidential information provided to fraud examiners by their clients is considered privileged and therefore legally exempt from disclosure in all circumstances

In determining what information to include in a fraud examination report, fraud examiners should try to decide what users will consider important and material

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

Fraud examiners must obtain and document evidence in a manner that ensures that the chain of custody is preserved

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ACFE CFE-Fraud-Prevention-and-Deterrence Exam Syllabus Topics:

Topic	Details
Topic 1	Tests your knowledge of why people commit fraud and what can be done to prevent it
Topic 2	Demonstrate knowledge of fraud schemes, internal controls to deter fraud and other auditing and accounting matters
Topic 3	Crime causation, white-collar crime, occupational fraud, fraud prevention, fraud risk assessment, and the ACFE Code of Professional Ethics
Topic 4	Demonstrate knowledge of these concepts: basic accounting and auditing theory
Topic 5	Demostrate the knowledge of the types of fraudulent financial transactions incurred in accounting records