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Q: 1
[Ethical Responsibilities of the Fraud Examiner] Benjamin, a Certified Fraud Examiner (CFE). was contacted regarding an engagement to investigate a complex money laundering case spanning numerous international jurisdictions and involving multiple cutting-edge technologies. Benjamin had previously attended a seminar on investigating money laundering schemes, but he had no other training or experience in such cases. However, he accepted the engagement and chose to conduct the work himself. Benjamin's conduct would likely be a violation of the ACFE Code of Professional Ethics.
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Q: 2
[Ethical Responsibilities of the Fraud Examiner] Article II of the ACFE Code of Professional Ethics prohibits illegal or unethical conduct, but It allows exceptions for unknowing violations of the law.
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Q: 3
[Fraud Risk Management] 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.
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Q: 4
[Ethical Responsibilities of the Fraud Examiner] While, 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.
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Q: 5
[Fraud Prevention] Consistently punishing perpetrators can be an effective fraud prevention mechanism
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Q: 6
[Fraud Risk Management] Having specialized departments within a company often increases the overall risk ot traud by the organization.
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Q: 7
[Fraud Risk Management] Effectively documenting and communicating organizational hierarchies, including the proper flow of information, can be a helpful tool in preventing fraud.
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Q: 8
[Ethical Responsibilities of the Fraud Examiner] 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 orwas 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.
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Q: 9
[White-Collar Crime] Criminologist Charles McCaghy has stated that regulatory pressure is the single most compelling factor behind deviance by organizations.
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Q: 10
[Fraud Deterrence] Professional auditing standards suggest that auditors incorporate an "element of predictability" in the selection of auditing procedures to be performed so that they ensure the same areas are tested in the same manner during each audit.
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