CFE-Fraud-Prevention-and-Deterrence ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam exact Exam Questions

Certified Fraud Examiner - Fraud Prevention and Deterrence Exam

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Question # 51

Which of the following would MOST LIKELY be a violation of the ACFE Code of Professional Ethics?

Rodrigo. a CFE. uncovered several material Internal control deficiencies unrelated to the Kickback scheme he was Investigating. In his final report to management. Rodrigo included information about the deficiencies even though they were unrelated to the situation he was hired to investigate.

Vivian, a CFE, accepted an assignment to conduct a fraud examination within a manufacturing company. Because she was in a hurry to complete the investigation, she overlooked key items of evidence and ended up failing to uncover a major fraud scheme.

Tom, a CFE, was hired by a client to conduct a fraud examination but found nothing amiss. A year later, he received a court order to provide the client ' s file to the ordering court. Tom complied with the court order, even though he did not have the client ' s authorization to do so.

All of the above are violations.

Question # 52

Which of the following factors increases an organization ' s inherent inclination toward committing crime according to Diane Vaughan ' s research?

Management seeks diversity in attitudes and perspectives when hiring employees.

Management separates employee performance goals from company performance goals.

Management encourages employee loyalty through social functions.

Management rewards employees who challenge how the company functions.

Question # 53

Jane, a Certified Fraud Examiner (CFE), was hired lo conduct a fraud examination at XYZ Company Her examination did not reveal any conclusive evidence that fraud had occurred or was occurring Consequently. XYZ ' s management asked Jane to state in her official examination report that the company is free of fraud as a means of assuring the board of directors that the company ' s anti-fraud controls were effective. The ACFE Code of Professional Ethics prohibits Jane from complying with management ' s request.

True

False

Question # 54

According to ACFE research, which of the following is the MOST COMMON method for detecting occupational fraud?

Tips

Document examination

Internal audit

Management review

Question # 55

Grace, a Certified Fraud Examiner (CFE), has accepted her first fraud examination engagement. Before beginning the investigation, she reviews the ACFE Code of Professional Ethics to ensure that her behavior will comply with the Code. Which of the following actions is explicitly prohibited by the ACFE Code of Professional Ethics?

Giving opinions regarding technical matters

Participating in an activity with an undisclosed conflict of interest

Engaging in an activity that is legal within her jurisdiction

Providing conclusions based on discovered evidence

Question # 56

Luis, the internal audit manager for Oak Corporation, is working to formally incorporate the company ' s fraud risk assessment into its audit process. Which of the following is NOT a way that Oak ' s audit team should use the fraud risk assessment process and results as part of their audits?

To inform the development of audit programs for areas that have been identified as having a high risk of fraud.

To confirm whether there is conclusive evidence that fraud is occurring within the company.

To validate whether the organization is appropriately managing moderate-to-high fraud risks.

To design audit tests to evaluate whether fraud risk controls are operating effectively.

Question # 57

Timothy, a new Certified Fraud Examiner (CFE), has been tasked with his first fraud examination engagement. To exercise appropriate professional skepticism as he conducts the engagement, Timothy should:

Begin the engagement with the belief that no fraud has occurred.

Maintain a skeptical attitude throughout the entire engagement even if the evidence shows no signs of fraudulent activity.

Maintain professional skepticism that can only be dispelled by evidence.

Form the engagement hypothesis without consideration for the nature of the assignment.

Question # 58

Devon, an employee at Tilly Corp., repeatedly demonstrates a negative attitude when working with other departments. To address this behavior, Devon’s manager tells him that he is no longer allowed to lead cross-departmental projects. This is an example of what type of behavioral response?

Positive reinforcement

Negative reinforcement

Punishment

None of the above

Question # 59

Christopher is conducting an external audit of a company in a jurisdiction that is subject to International Standards on Auditing (ISAs). While conducting his audit procedures, he discovers evidence of a fraud involving Jeffrey, the company’s chief executive officer. Which of the following is Christopher’s BEST response to these findings?

Christopher should immediately report his findings to the relevant government authority.

Christopher should report his findings to those charged with governance of the organization.

Christopher should confront Jeffrey with his audit findings and try to get a confession.

Christopher should not disclose his findings to any other parties due to legal liability.