Free Access ACFE.CFE-Fraud-Prevention-and-Deterrence.v2025-11-07.q135 Practice Test (Page 4)

Question 11

Which of the following is NOT a way that an organization's fraud risk assessment should be incorporated into the audit process''

A.It should be used to design audit tests to evaluate whether the controls are operating effectively

B.It should be used to replace the auditor's own identification and assessment of fraud risks.

C.It should be used to assess whether there is a moderate-to-high risk of management override of internal controls within the moderate-to-high fraud risk areas

D.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.

Question 12

According to Diane Vaughan, which of the following factors increases an organization's inherent inclination toward committing crime?

A.Management links employee performance goals with company performance goals

B.All of the above

C.Management seeks out diversity in attitudes and perspectives when hiring employees

D.Rewards are given to employees who challenge the status quo

Question 13

During an external audit of an organization's financial statements, Saskia, the external auditor, uncovers significant internal control deficiencies at the organization. She believes these deficiencies could result in a material misstatement of the financial statements. Which of the following should Saskia do regarding these findings?

A.Saskia should provide a written communication about her findings to the relevant regulatory agencies.

B.Saskia should suspend the current audit engagement and begin a new audit focused on the internal control deficiencies.

C.Saskia should communicate the deficiencies in writing to those charged with governance.

D.Saskia should withdraw from the audit engagement immediately and issue a disclaimer on any prior work performed.

Question 14

Which of the following statements is MOST ACCURATE regarding an organization's fraud risk management program?

A.Punishment for intentional noncompliance should be individualized based on the offender's personal circumstances.

B.Systems to monitor and identify breaches in compliance must be included in the fraud risk management program.

C.All employees at the organization should be responsible for monitoring compliance with the program.

D.Formal sanctions for intentional noncompliance should be kept private and only shared if a party absolutely needs to know.

Question 15

Grace, a Certified Fraud Examiner (CFE), has accepted her first fraud examination engagement. Before beginning the investigation, she reviews the ACFE Code of Professional Ethics to ensure that her behavior will comply with the Code. Which of the following actions is explicitly prohibited by the ACFE Code of Professional Ethics?

A.Giving opinions regarding technical matters

B.Participating in an activity with an undisclosed conflict of interest

C.Engaging in an activity that is legal within her jurisdiction

D.Providing conclusions based on discovered evidence

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Question 11

Question 12

Question 13

Question 14

Question 15

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