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NEW QUESTION 16
Which of the following is NOT a purpose served by a professional organization s code of conduct?
- A. It provides clear answers to all ethical dilemmas the organization s members might face
- B. It provides more direct solutions to professional ethical dilemmas than might exist under general ethical principles
- C. It serves as a reference and benchmark for ethical guidance
- D. It facilitates practical enforcement and profession-wide internal discipline
Answer: C
NEW QUESTION 17
The Public Interest Oversight Board (PIOB) is the global body responsible for establishing international corporate governance standards.
- A. True
- B. False
Answer: B
NEW QUESTION 18
While, a Certified Fraud Examiner (CFE). was hired to conduct a fraud examination She did not find fraud, but. In White's opinion, there were several internal control deficiencies that, if not remediated, could facilitate the occurrence of fraud Under the ACFE Code of Professional Ethics. White may include her opinion on the controls in her report to management.
- A. True
- B. False
Answer: A
NEW QUESTION 19
To address an employee's consistent failure to meet deadlines, a manager removes the employee's ability to work from home This is an example of what type of behavioral response?
- A. Positive reinforcement
- B. None of the above
- C. Negative reinforcement
- D. Punishment
Answer: D
NEW QUESTION 20
Consistently punishing perpetrators can be an effective fraud prevention mechanism
- A. True
- B. False
Answer: A
NEW QUESTION 21
According to Diane Vaughan, which of the following factors increases an organization's inherent inclination toward committing crime?
- A. Rewards are given to employees who challenge the status quo
- B. All of the above
- C. Management seeks out diversity in attitudes and perspectives when hiring employees
- D. Management links employee performance goals with company performance goals
Answer: D
NEW QUESTION 22
ABC. Inc. is a publicly traded, multi-national corporation. Which of the following statements is TRUE regarding the corporate governance requirements that ABC is subject to?
- A. ABC is subject to the Universal Corporate Governance Act because it is a publicly traded corporation.
- B. ABC is not required to comply with any corporate governance requirements because it operates in multiple jurisdictions
- C. ABC is required to comply with G20/OECD Principles of Corporate Governance
- D. ABC must comply with specific listing standards for the stock exchange(s) on which it is listed
Answer: D
NEW QUESTION 23
According to the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control-integrated Framework (the Framework), there are five interrelated components of a company's internal control. Which of the following is NOT among these five components?
- A. Independent oversight
- B. Monitoring
- C. Control environment
- D. Information and communication
Answer: A
NEW QUESTION 24
The internal auditor's fraud-related responsibilities include which of the following?
- A. Overseeing management's actions to manage fraud risks
- B. Reporting to regulators regarding the entity's vulnerability to fraud
- C. Attesting that the organization's financial statements are free of material misstatements caused by fraud
- D. Evaluating whether management is actively retaining responsibility for oversight of the fraud risk management program
Answer: D
NEW QUESTION 25
According to Diane Vaughan. which of the following factors increases an organization's inherent inclination toward committing crime?
- A. Rewards are given to employees who challenge the status quo
- B. All of the above
- C. Management separates employee performance goals from company performance goals
- D. Management encourages employee loyalty through social functions
Answer: D
NEW QUESTION 26
Which of the following is NOT an effective way to help prevent fraud through the organization's performance measurement and management programs?
- A. Establishing well-defined job descriptions to facilitate performance evaluations
- B. Tying employee compensation to reasonable organizational performance goals
- C. Evaluating employee performance based solely on productivity and profit
- D. Providing regular training to ensure that all employees are sufficiently prepared to perform their tasks
Answer: C
NEW QUESTION 27
Which of the following criminological theories asserts that the three elements that have the most influence on crime are the availability of suitable targets, absence of capable guardians, and presence of motivated offenders?
- A. Differential association theory
- B. Routine activities theory
- C. Social control theory
- D. Rational choice theory
Answer: D
NEW QUESTION 28
The availability of suitable targets, absence of capable guardians, and presence of motivated offenders are the three most important elements that influence crime according to which of the following criminological theories?
- A. Social control theory
- B. Rational choice theory
- C. Conditioning theory
- D. Routine activities theory
Answer: A
NEW QUESTION 29
Which of the following is a best practice to ensure a successful fraud reporting program?
- A. The company should require employees with information about potential fraud to report it directly and only to their immediate supervisor.
- B. Employees should be informed that, to the extent possible, their names will not be disclosed.
- C. The company should communicate that fraud, waste, and abuse are more likely to occur in large organizations than small ones.
- D. Employees are held accountable for reporting tips that are not able to be substantiated
Answer: B
NEW QUESTION 30
In identifying the inherent fraud risks that could apply to the organization the fraud risk assessment team should discuss
- A. The possibility of management override of controls
- B. Risks to the organization's reputation
- C. All of the above
- D. The organization's incentive programs
Answer: C
NEW QUESTION 31
In developing a corporate governance framework for an organization, directors and management must consider which of the following?
- A. The organization s cultural environment
- B. The organization s ethical environment
- C. The organization s legal and regulatory environment
- D. All of the above
Answer: D
NEW QUESTION 32
According to the authors of Crimes of the Middle Classes, all of the following factors have contributed to the rising problem of economic crime EXCEPT:
- A. The economy's increased reliance on credit
- B. The increased constraints of the regulatory environment for businesses
- C. The continued pressures of a culture that rewards affluence and success
- D. The increased opportunity for wrongdoing as a result of advancing information technologies
Answer: B
NEW QUESTION 33
Benjamin, a Certified Fraud Examiner (CFE). was contacted regarding an engagement to investigate a complex money laundering case spanning numerous international jurisdictions and involving multiple cutting-edge technologies. Benjamin had previously attended a seminar on investigating money laundering schemes, but he had no other training or experience in such cases. However, he accepted the engagement and chose to conduct the work himself. Benjamin's conduct would likely be a violation of the ACFE Code of Professional Ethics.
- A. True
- B. False
Answer: A
NEW QUESTION 34
Which of the following is NOT a responsibility of the organization's board of directors?
- A. Acting as guardians of the organization's resources and assets
- B. Serving as the intermediaries between shareholders and management
- C. Directing employees to execute business activities
- D. Assessing the strategy and underlying purpose of management's decisions and actions
Answer: C
NEW QUESTION 35
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