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Free CFE - Fraud Prevention Exam Braindumps (page: 13)

Page 12 of 36
PDF with 141 Questions

Which of the following is one of the components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Enterprise Risk Management--Integrating with Strategy and Performance?

  1. Event avoidance
  2. Risk tolerance
  3. Compliance
  4. Review and revision

Answer(s): C



Which of the following is NOT a factor that directors and management should consider when developing a corporate governance framework for an organization?

  1. The legal and regulatory environment in which the organization operates
  2. The ability of the framework to remain static during changes in the corporate landscape
  3. The organization's ethical environment
  4. The organization's cultural environment

Answer(s): B



During an external audit of an organization's financial statements. Peter, the external auditor, uncovers significant internal control deficiencies at the audit client's organization. He believes these deficiencies could result in a material misstatement of the financial statements.
Which of the following should Peter do with regard to these findings?

  1. Peter should make a public announcement that he is withdrawing from the audit engagement.
  2. Peter should provide a written communication about the findings to those charged with governance.
  3. Peter should report the findings in writing directly to the appropriate regulatory agencies
  4. Peter should discreetly work with senior management to correct the underlying internal control deficiencies.

Answer(s): B



Blue. Inc. is a specialty retailer of customized shipping containers. The company receives a very large order from Green Company, a new customer from a country that is known to have high corruption risks.
Which of the following is MOST ACCURATE regarding the due diligence procedures Blue should perform on Green before proceeding with this transaction?

  1. Blue should consider Green's expected purchasing pattern and method of payment in determining whether to accept the transaction.
  2. Blue only needs to undertake due diligence procedures if Green is requesting to pay on credit.
  3. Blue should perform the same level of due diligence as it would for any other customer to avoid claims of discrimination.
  4. Blue does not need to undertake any specific due diligence procedures for this transaction.

Answer(s): A






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