Exam (elaborations)
ACFE REVIEW - FRAUD PREVENTION AND DETERRENCE
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ACFE REVIEW - FRAUD PREVENTION AND DETERRENCE
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ACFE REVIEW - FRAUD PREVENTION ANDDETERRENCE
T/F: In a public company, the chief executive officer (CEO) should be charged with
having primary responsibility for the oversight of the company's compliance program. -
Answers -False
T/F: According to the International Organization of Supreme Audit Institutions'
(INTOSAI) standards for public-sector audits, the requirements for private-sector
external auditors found in International Standard on Auditing (ISA) 240, 'The Auditor's
Responsibility Relating to Fraud in an Audit of Financial Statements,' also apply to
government auditors during audits of public-sector financial statements. - Answers -True
Which of the following should be covered in employee anti-fraud training? - Answers -
Examples of past transgressions and how they were handled.
T/F: Criminal activities involving corporations stem primarily from the organization's
subcultures and values, rather than from the attitudes and characteristics of the
individuals carrying out the crimes. - Answers -True
Which of the following parties is ultimately responsible for the prevention and detection
of fraud within an organization? - Answers -Management
The primary purpose of International Standard on Auditing (ISA) 240 is to: - Answers -
Establish standards and provide guidance on the auditor's responsibility to consider
fraud in an audit of financial statements
T/F: In the context of a fraud examination, the preservation of integrity requires that the
fraud examiner avoid all differences of opinion regarding all material matters with the
other parties to the engagement. - Answers -False
T/F: As part of its vendor due diligence procedures, an organization should avoid
revealing that it is seeking information about potential vendors prior to starting a
relationship with them. - Answers -False
Which of the following is TRUE regarding organizational structure? - Answers -The
existence of many specialized departments within a company generally increases the
overall risk of fraud within the organization.
The theory of differential association is used frequently to explain white-collar
criminality. Which of the following is one of the assertions or principles of differential
association? - Answers -Criminal behavior is acquired through participation with intimate
personal groups.
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