Free CFE-FRAUD-PREVENTION – Acfe CFE-FRAUD-PREVENTION Practice Test Question

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• ○ Engaging in behavior that is against the law
• ○ Participating in conduct that could be considered unethical
• ○ Accepting assignments where there are undisclosed conflicts of interest
• ○ Giving opinions regarding technical matters

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• ○ Performing comprehensive fraud risk assessments to identify specific fraud schemes
• ○ Developing preventive and detective fraud control activities
• ○ Communicating the expectations of these governing the fraud risk management program
• ○ Eliminating all known fraud vulnerabilities in the organization

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• ○ Independent reconciliations
• ○ Continuous audit techniques
• ○ Fraud awareness training
• ○ Whistleblower hotline

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• ○ In addition to fraud, the auditor should remain alert to potential occurrences of abuse during the audit
• ○ The auditor has the automatic ability to withdraw from the audit engagement if fraud is found
• ○ The requirements found in International Standard on Auditing (ISA) 240 do not apply to the engagement
• ○ The objectives of the audit are likely narrower than those of a private-sector financial statement audit

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• ○ No effect on the occurrence of the undesired behavior
• ○ Permanent suppression of the undesired behavior
• ○ Increase in the occurrence of the undesired behavior
• ○ Temporary suppression of the undesired behavior

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• ○ True
• ○ False

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• ○ It should be used to map existing controls to the moderate-to-high fraud risks identified
• ○ It should be used to determine areas where the auditors can reduce their awareness of indicators of fraud.
• ○ It should be used to deliver reports that incorporate the results of the auditors’ validation and testing of the fraud risk controls.
• ○ It should be used to design audit procedures in a way that enables auditors to look for fraud in known areas of high risk.

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• ○ Frauds committed by staff-level employees cause higher median losses than those committed by owners and executives.
• ○ Most fraudsters have previous criminal convictions for fraud-related offenses.
• ○ An unwillingness to share duties is the most reported red flag displayed by fraud perpetrators prior to the detection of their crime.
• ○ Men commit significantly more frauds than women do.