Valid Test CFE-Fraud-Prevention-and-Deterrence Test - CFE-Fraud-Prevention-and-Deterrence Detailed Answers

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The CFE-Fraud-Prevention-and-Deterrence Exam is a challenging and comprehensive exam that requires extensive preparation and study. CFE-Fraud-Prevention-and-Deterrence exam consists of four sections, each containing 125 multiple-choice questions. Candidates are given four hours to complete each section, and they must achieve a score of at least 75% to pass. CFE-Fraud-Prevention-and-Deterrence Exam is computer-based and is offered at testing centers around the world. Candidates who pass the exam are awarded the CFE-Fraud-Prevention-and-Deterrence certification, which is valid for two years.

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ACFE CFE-Fraud-Prevention-and-Deterrence Detailed Answers & Reliable CFE-Fraud-Prevention-and-Deterrence Exam Voucher

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ACFE CFE-Fraud-Prevention-and-Deterrence Certification Exam is recommended for professionals who have a background in accounting, finance, law enforcement, or auditing. Candidates must have at least two years of professional experience in a related field to be eligible for the certification exam. CFE-Fraud-Prevention-and-Deterrence exam consists of four sections, including fraud prevention and deterrence, financial transactions, investigation, and legal elements. Certified Fraud Examiner - Fraud Prevention and Deterrence Exam certification exam is computer-based and consists of 500 multiple-choice questions. Candidates must score at least 75% to pass the exam and earn the certification.

ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Sample Questions (Q89-Q94):

NEW QUESTION # 89
Which of the following is one of the four recommendations made by the National Commission on Fraudulent Financial Reporting the Treadway Commission to reduce the probability of fraud in financial reports?

A. Develop a written charter for management.
B. Give shareholders oversight of internal controls.
C. Have a mandatory independent compensation committee.
D. Have adequate audit committee resources and authority.

Answer: D

Explanation:
The Corporate Governance chapter explains that the Treadway Commission made four recommendations aimed at reducing the likelihood of fraud in financial reporting. These recommendations were directed to the board of directors' audit committee and included having an independent audit committee, a written charter for the audit committee, adequate resources and authority, and informed, vigilant, and effective audit committee members. The manual specifically states that the existence of an audit committee and a written charter is not enough; the committee must also have adequate resources and authority to carry out its responsibilities. That language directly matches option C. The other choices either substitute the wrong committee, assign the charter to management instead of the audit committee, or improperly shift oversight of internal controls to shareholders.

NEW QUESTION # 90
Which of the following is TRUE regarding the G20/OECD Principles of Corporate Governance?

A. They assert that a corporate governance framework should ensure that the treatment of shareholders differs based on the class of stock they own.
B. They are required to be implemented by all corporations in the jurisdictions that have officially adopted them.
C. They are intended to be applicable in emerging markets but not in developed economies.
D. They state that a corporate governance framework should promote transparent and fair markets and the efficient allocation of resources.

Answer: D

Explanation:
The G20/OECD Principles of Corporate Governance emphasize the importance of promoting transparent and fair markets and ensuring the efficient allocation of resources. These principles provide a framework applicable across various jurisdictions, aiming to enhance the integrity and functioning of financial markets globally.

NEW QUESTION # 91
Which of the following Is one of the components of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Enterprise Risk Management-Integrating with Strategy and Performance?

A. Independent monitoring
B. Operating environment
C. Governance and culture
D. Risk tolerance

Answer: C

Explanation:
Components of COSO Enterprise Risk Management (ERM):
* The COSO ERM framework emphasizes the integration of risk management with strategy and performance, comprising the following components:
* Governance and culture.
* Strategy and objective-setting.
* Performance.
* Review and revision.
* Information, communication, and reporting.
Why D is Correct:
* Governance and culture set the foundation for an organization's risk management practices by establishing oversight, ethical values, and the operating structure.
Why Other Options are Incorrect:
* A (Independent monitoring): Monitoring is part of internal control, not specifically ERM.
* B (Operating environment): Not a COSO ERM component.
* C (Risk tolerance): A concept within ERM but not a standalone component.

NEW QUESTION # 92
Which of the following is FALSE regarding a background check policy for employees'7

A. When verifying past employment, management should only ask previous employers to verify the dates the candidate was employed.
B. 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
C. As part of the screening process, management should contact the references provided by the job candidate
D. 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.

Answer: A

NEW QUESTION # 93
Aaron, a government auditor, is conducting a financial statement audit of a public-sector entity in accordance with the International Standards of Supreme Audit Institutions. Which of the following is TRUE regarding Aaron's consideration of fraud during this engagement?

A. Aaron should remain alert for fraud but does not need to consider the potential for abuse or other misconduct during the audit engagement.
B. Aaron's audit objectives are likely narrower than those of a private-sector financial statement audit.
C. Aaron does not need to comply with the requirements found in International Standard on Auditing 240, as they do not apply to the engagement.
D. Aaron likely does not have the ability to withdraw from the engagement, even if fraud is identified during the audit.

Answer: D

Explanation:
According to the ACFE Manual, in public-sector audits conducted under INTOSAI standards, "government auditors might not have the same level of discretion as private auditors to withdraw from engagements when fraud is detected." INTOSAI standards focus more on reporting and public transparency rather than withdrawal.
Reference:ACFE Fraud Examiners Manual, 2020 International Edition -Auditors' Fraud-Related Responsibilities, Section on INTOSAI Standards.

NEW QUESTION # 94
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