ACFE CFE-Fraud-Prevention-and-Deterrence Exam Dumps

Black a Certified Fraud Examiner (CFE), was hired to conduct a fraud examination He did not find fraud, but in Black's opinion the controls he examined were deficient Under the ACFE Code of Professional Ethics Black is not permitted to express his opinion on the deficient controls.

• True
• False

International Standard on Auditing (ISA) 240 establishes auditors as being primarily responsible for the establishment of anti-fraud internal controls within an organization.

• True
• False

Which of the following statements Is TRUE regarding how fraud examiners should exercise professional skepticism during a fraud examination engagement?

• Fraud examiners should not relax their skeptical attitudes under any circumstances.
• Professional skepticism involves maintaining a mindset that no fraud has occurred
• Fraud examiners should form the engagement hypothesis without regard to the nature of the assignment
• Professional skepticism can be dispelled only by evidence

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

• Internal audit
• Confession
• Tips
• External audit

In identifying the inherent fraud risks that could apply to the organization, the fraud risk assessment team should discuss:

• The organization's incentive programs
• The possibility of management's override of controls
• Risks to the organization's reputation
• All of the above