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Free CFE - Fraud Prevention Exam Braindumps (page: 18)

Page 18 of 36
PDF with 141 Questions

Which of the following is NOT considered a conflict of interest that is prohibited under the ACFE Code of Professional Ethics?

  1. Accepting an assignment to secretly infiltrate the fraud examiner's employing organization and transmit inside information to another party
  2. Undertaking an engagement that decreases the fraud examiner's ability to perform their duties for their full-time employer
  3. Accepting an assignment to evaluate the anti-fraud controls at an organization in which the fraud examiner is a shareholder, provided the fraud examiner's ownership interest is disclosed
  4. Undertaking engagements for both sides in a case of alleged vendor overbilling

Answer(s): C



Which of the following is TRUE regarding the internal audit function's reporting responsibilities pertaining to fraud?

  1. The internal audit function should discuss how and when to report fraud-related issues with senior management and the board of directors before such issues arise.
  2. The internal audit function is permitted, but not required, to periodically report about the organization's fraud risks to senior management and the board of directors.
  3. The internal audit function should not disclose the results of its fraud audits to senior management or the board of directors in order to maintain independence.
  4. The internal audit function is not permitted to communicate with the board of directors about fraud, as that is the responsibility of external auditors.

Answer(s): B



During a fraud risk assessment, the assessment team determines that it would like to observe the interactions among several employees as they collectively discuss the organization's current fraud awareness training.
Which of the following techniques would be MOST HELPFUL for the team to use in gathering this information?

  1. Focus groups
  2. Surveys
  3. Anonymous feedback mechanisms
  4. Interviews

Answer(s): A



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.

  1. True
  2. False

Answer(s): B



Page 18 of 36



Post your Comments and Discuss ACFE CFE - Fraud Prevention exam with other Community members:

Renjith Raj commented on December 31, 2024
very good questions
Anonymous
upvote

yemane commented on December 06, 2024
Good for exam preparation
Anonymous
upvote