ACFE CFE-Fraud-Prevention Exam Course | CFE-Fraud-Prevention Exam Dumps Provider

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ACFE CFE-Fraud-Prevention Exam Syllabus Topics:

Section	Weight	Objectives
White-Collar Crime	15–20%	- Impact on organizations and society - Causal factors and opportunity structures - Definition and characteristics - Organizational vs occupational crime - Legal prosecution and sanctions
Corporate Governance	20–25%	- Internal control systems 1. COSO five components - Governance frameworks and principles 1. Treadway Commission (COSO) 2. OECD guidelines - Roles of board, management, auditors
Professional Ethics	5–10%	- Conflicts of interest and integrity - ACFE Code of Professional Ethics - Ethical decision-making
Management's Fraud-Related Responsibilities	5–10%	- Oversight and accountability - Reporting mechanisms - Establishing anti-fraud policies
Fraud Risk Assessment	15–20%	- Assessment implementation and documentation - Risk analysis and prioritization - Risk identification methodologies
Fraud Prevention Programs	15–20%	- Monitoring and continuous improvement - Communication and training - Designing prevention strategies
Understanding Criminal Behavior	5–10%	- Behavior modification principles - Theories of crime causation 1. Rational choice and routine activities theory 2. Differential association theory 3. Social control and social learning theory

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ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Sample Questions (Q69-Q74):

NEW QUESTION # 69
According to ACFE research, which of the following is TRUE?

A. Most fraudsters have previous criminal convictions for fraud-related offenses.
B. Men commit significantly more frauds than women do.
C. An unwillingness to share duties is the most reported red flag displayed by fraud perpetrators prior to the detection of their crime.
D. Frauds committed by staff-level employees cause higher median losses than those committed by owners and executives.

Answer: C

Explanation:
ACFE research highlights that an unwillingness to share duties is one of the most common red flags exhibited by fraud perpetrators. This behavior often indicates a desire to conceal fraudulent activities.Most fraudsters do not have prior convictions, and frauds committed by executives tend to cause higher losses compared to those committed by staff-level employees.

NEW QUESTION # 70
Which of the following Is NOT considered a conflict of Interest that Is prohibited under the ACFE Code of Professional Ethics?

A. Accepting an assignment to secretly infiltrate the fraud examiner's employing organization and transmit inside information to another party
B. Accepting an assignment to assess red flags of fraud at an organization in which the fraud examiner is a partner, provided the fraud examiner's ownership interest is disclosed
C. Undertaking engagements for both sides in a case of an alleged product substitution scheme
D. Undertaking an engagement that decreases the fraud examiner's ability to perform their duties for their full-time employer

Answer: B

Explanation:
Fraud examiners must avoid situations that compromise their objectivity, independence, or professional duties.
Disclosure of ownership does not eliminate the conflict of interest if it could impair objectivity.

NEW QUESTION # 71
Which of the following is TRUE regarding the internal audit function's reporting responsibilities pertaining to fraud?

A. The internal audit function should discuss how and when to report fraud-related issues with senior management and the board of directors before such issues arise.
B. The internal audit function is permitted, but not required, to periodically report about the organization's fraud risks to senior management and the board of directors.
C. The internal audit function is not permitted to communicate with the board of directors about fraud, as that is the responsibility of external auditors.
D. The internal audit function should not disclose the results of its fraud audits to senior management or the board of directors in order to maintain independence.

Answer: A

Explanation:
Internal Audit Reporting Responsibilities:
Internal audit must maintain open communication with senior management and the board to ensure appropriate handling of fraud-related issues.
Establishing reporting protocols in advance ensures timely and consistent responses when fraud occurs.

NEW QUESTION # 72
During an external audit of an organization's financial statements. Peter, the external auditor, uncovers significant internal control deficiencies at the audit client's organization. He believes these deficiencies could result in a material misstatement of the financial statements. Which of the following should Peter do with regard to these findings?

A. Peter should provide a written communication about the findings to those charged with governance.
B. Peter should report the findings in writing directly to the appropriate regulatory agencies
C. Peter should discreetly work with senior management to correct the underlying internal control deficiencies.
D. Peter should make a public announcement that he is withdrawing from the audit engagement.

Answer: A

Explanation:
Auditor's Responsibility Under ISA Standards:
ISA 265 requires auditors to communicate significant deficiencies in internal control to those charged with governance in writing.
This ensures proper corrective actions are taken and maintains transparency in the audit process.
Why B is Correct:
Written communication to governance authorities is the appropriate course of action to address control deficiencies without breaching confidentiality or overstepping regulatory boundaries.

NEW QUESTION # 73
According to professional auditing standards, auditors should do which of the following as part of addressing the assessed risks of material misstatement due to fraud in the financial statements?

A. All of the above
B. Consider the knowledge, skill, and ability levels of the individuals who are assigned significant audit responsibilities
C. Disregard the entity's selection and application of accounting policies concerning complex transactions
D. Incorporate an element of predictability in the selection of auditing procedures to be performed

Answer: D

NEW QUESTION # 74
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