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Free CFE - Fraud Prevention Exam Braindumps
Certified Fraudiner - Fraud Prevention Questions 125–134 (page: 10)

Updated On: 1-Feb-2026
Page 10 of 30
PDF with 314 Questions

Which of the following statements about the fraud risk assessment process Is MOST ACCURATE?

  1. The fraud risk assessment can be effectively conducted by people inside or outside of the organization.
  2. To ensure the independence of the team members, a fraud risk assessment must be conducted by a consultant or other external party.
  3. If the individuals conducting the fraud risk assessment truly believe that fraud could not happen at the organization, then the assessment process should reflect that belief.
  4. The fraud risk assessment is most effective when management's influence on the process is limited

Answer(s): D



Jody has been working at ABC Corp. for ten years. He steals funds from the company and tells himself that the company owes it to him for his "unrewarded hard work and loyalty" This situation BEST illustrates which leg of the Fraud Triangle?

  1. Perceived non-shareable financial need
  2. Rationalization
  3. Perceived opportunity
  4. Lack of personal Integrity

Answer(s): B



The internal auditor's fraud-related responsibilities include which of the following?

  1. Evaluating whether management is actively retaining responsibility for oversight of the fraud risk management program
  2. Reporting to regulators regarding the entity's vulnerability to fraud
  3. Overseeing management's actions to manage fraud risks
  4. Attesting that the organization's financial statements are free of material misstatements caused by fraud

Answer(s): A



Article II of the ACFE Code of Professional Ethics prohibits illegal or unethical conduct, but It allows exceptions for unknowing violations of the law.

  1. True
  2. False

Answer(s): B



Which of the following Is NOT a way that an organization's fraud risk assessment should be Incorporated Into the audit process?

  1. It should be used to assess whether there is a moderate-to-high risk of management overriding controls within the moderate-to-high fraud risk areas.
  2. It should be used to replace the auditor's own identification and assessment of fraud risks.
  3. it should be used to increase awareness in the development of audit programs for areas that have been identified as having a moderate-to-high risk of fraud.
  4. It should be used to design audit tests to evaluate whether the controls are operating effectively.

Answer(s): B



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