Acfe surepassexam free Cfe-fraud-prevention-and-deterrence Questions Attempt by Ben q14 vce pdf

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Exam Name:	Certified Fraud Examiner - Fraud Prevention and Deterrence Exam
Exam Code:	CFE-Fraud-Prevention-and-Deterrence Dumps
Vendor:	ACFE	Certification:	Certified Fraud Examiner
Questions:	284 Q&A's	Shared By:	ben

Question 28

During an external audit, the audit team identifies evidence that management has intentionally omitted some expenses from the company ' s financial statements in order to conceal an asset misappropriation scheme. However, the amount of the resulting misstatement does not meet the quantitative materiality threshold for the audit. Which of the following is TRUE regarding this situation?

Options:

The auditors should assume that all audit evidence collected previously is unreliable and withdraw from the audit engagement

The auditors should assess the need to adjust the nature, timing, and extent of remaining audit procedures based on this evidence.

The auditors can ignore the misstatement because the omitted amount is less than the quantitative materiality threshold and therefore immaterial to the audit.

The auditors do not need to be concerned with this evidence, as asset misappropriation schemes are not considered relevant or material for external audit purposes.

Discussion

Question 29

According to criminologist Charles McCaghy, which of the following is the most compelling factor behind deviance by organizations?

Options:

Executive failures

Excessive regulatory requirements

Profit pressure

Unethical corporate culture

Discussion

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Question 30

Rhys, a Certified Fraud Examiner (CFE), was hired to conduct a fraud examination at Marvel Company. His examination did not reveal any conclusive evidence that fraud had occurred or was occurring. Consequently, Marvel ' s management asked Rhys to state in his official examination report that the company is free of fraud as a means of assuring the board of directors that the company ' s anti-fraud controls were effective. Which of the following is TRUE regarding the ACFE Code of Professional Ethics in this situation?

Options:

The ACFE Code of Professional Ethics allows Rhys to comply with management ' s request without limitations.

The ACFE Code of Professional Ethics allows Rhys to comply with management ' s request only if he can find another CFE to co-sign his report.

The ACFE Code of Professional Ethics allows Rhys to comply with management ' s request only if the company has liability insurance to cover an incorrect assertion.

The ACFE Code of Professional Ethics absolutely prohibits Rhys from complying with management ' s request.

Discussion

Question 31

According to the 2020 Report to the Nations, which of the following is the MOST COMMON method by which frauds are detected?

Options:

Internal audit

Confession

Tips

External audit