ACFE CFE-Fraud-Prevention-and-Deterrence Dumps

Offer a bonus to anyone whose drawer reconciles perfectly for sixty days.

Publicly call out and criticize employees whose cash drawers are over or short.

Take away an hour of paid time off for each time the drawer is over or short

Demote employees who continue to have reconciliation discrepancies

True

False

The behavior will return when punishment ceases

The behavior will be permanently suppressed

The behavior will occur more frequently.

The behavior will not be affected by the punishment

Include descriptions of the procedures that management uses to detect fraud.

Include examples of prior employee misconduct and how those situations were handled.

Be restricted to formal educational mechanisms to reinforce the importance of the message.

Be presented by organizational executives or anti-fraud professionals only.

True

False

True

False

Fraud risk management is considered to be the foundation of effective corporate governance

Corporate governance's primary purpose is to ensure the accuracy of the organization's financial reports

Effective corporate governance practices are most necessary in an organization in which the owners are also the individuals responsible for setting the corporate strategy.

An entity's corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization

Focus groups

Surveys

Anonymous feedback mechanisms

Interviews

The fraud risk assessment report should be delivered in a style most suited to the language of the business

The fraud risk assessment report should contain a detailed, comprehensive list of every assessment finding

A fraud risk assessment report should reflect the assessment team's subjective perspective regarding the risks identified

All of the above

Trustworthiness

A well-developed sense of moral philosophy

Avoidance of conflicts of interest

Refusal to admit errors

Peter should make a public announcement that he is withdrawing from the audit engagement.

Peter should provide a written communication about the findings to those charged with governance.

Peter should report the findings in writing directly to the appropriate regulatory agencies

Peter should discreetly work with senior management to correct the underlying internal control deficiencies.

Independent monitoring

Operating environment

Risk tolerance

Governance and culture

Susannah should confront management with her audit findings and try to get a confession.

Susannah should Immediately report her findings to the secunties regulators

Susannah should report her findings to the audit committee of the board of directors.

Susannah should not disclose her findings to any other parties due to client confidentiality.

The most commonly reported red flag displayed by fraud perpetrators prior to the detection of their crime is complaints about management.

Mote occupational frauds are committed by men than by women

The median losses caused by executives are lower than those caused by staff-level employees

The majority of fraudsters have been previously punished by an employer for a fraud-related offense

Controls are not effective in preventing theft and fraud If those at risk do not know of their presence

Most experts agree that it is harder to detect frauds than to prevent them

Educating employees about company hotlines and reporting programs increases their perception of detection

Conducting covert audits is among the most effective fraud prevention methods

The more personalized the communication, the more effective it will be in encouraging employees to participate

The communication should be made in a format mat is most appropriate for the culture of the organization

The communication should be visibly disseminated throughout the business

All of the above

Acting in a way that could be deemed unethical by the industry

Drawing conclusions based upon evidence

Participating in an activity where there is an undisclosed conflict of interest

Engaging in behavior that is against the law

Contract law

Guidance from her family and friends

The ACFE Code of Professional Ethics

Philosophical principles related to ethics

A salesman offering bribes to secure a contract

An accounting clerk forging company checks to herself

A doctor conspiring with patients to Tile false health care insurance claims

Management of several construction companies engaging In bid rigging

Transparency

Fairness

Responsibility

Accountability

When verifying past employment, management should only ask previous employers to verify the dates the candidate was employed.

At a minimum, management should conduct a background check on any candidate who will have constant access to cash, checks, and credit card numbers, or other easily stolen items.

Where permitted by law, management should run a background check on any existing employee who is being promoted to a position that includes access to sensitive or valuable company resources, even if a background check was run on the individual at the time of hire

As part of the screening process, management should contact the references provided by the job candidate.