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[General] CFE-Fraud-Prevention-and-Deterrence Valid Test Discount & CFE-Fraud-Preventi

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【General】 CFE-Fraud-Prevention-and-Deterrence Valid Test Discount & CFE-Fraud-Preventi

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The CFE-Fraud-Prevention-and-Deterrence Certification Exam covers a wide range of topics, including fraud prevention, detection, investigation, and legal elements. CFE-Fraud-Prevention-and-Deterrence exam is divided into four sections, each of which focuses on a specific area of fraud prevention and deterrence. These sections include fraud prevention and deterrence, financial transactions and fraud schemes, investigation, and legal elements of fraud. CFE-Fraud-Prevention-and-Deterrence Exam is designed to test a candidate's knowledge and application of these topics, and to ensure that they are well-equipped to handle complex fraud cases.
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ACFE Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Sample Questions (Q172-Q177):NEW QUESTION # 172
A government auditor is conducting a financial statement audit of a public-sector entity in accordance with the International Standards of Supreme Audit Institutions (ISSAI). Which of the following is TRUE regarding the auditor's consideration of fraud during this engagement?
  • A. The objectives of the audit are likely narrower than those of a private-sector financial statement audit.
  • B. The auditor has the automatic ability to withdraw from the audit engagement if fraud is found.
  • C. In addition to fraud, the auditor should remain alert to potential occurrences of abuse during the audit.
  • D. The requirements found in International Standard on Auditing (ISA) 240 do not apply to the engagement
Answer: C
Explanation:
ISSAI Standards:
* The International Standards of Supreme Audit Institutions (ISSAI) require government auditors to consider fraud and abuse during financial audits. Abuse includes improper use of authority or resources, which may not always meet the legal threshold of fraud but still warrants attention.
Expanded Audit Scope:
* Unlike private-sector audits, public-sector audits often have broader objectives, requiring vigilance for misuse of public funds and resources.
Why A is Correct:
* Staying alert to abuse ensures comprehensive accountability, aligning with ISSAI's objectives.

NEW QUESTION # 173
The objectives of a fraud risk management program include:
  • A. Punishing fraud perpetrators
  • B. Limiting the damage caused by fraud occurrences
  • C. All of the above
  • D. Proactively identifying fraud risks
Answer: C
Explanation:
* Objectives of a Fraud Risk Management Program:
* A. Proactively identifying fraud risks: A fundamental goal is to identify and assess potential fraud risks to implement preventative measures.
* B. Limiting the damage caused by fraud occurrences: Programs should have mechanisms in place to detect and respond to fraud promptly to minimize harm.
* C. Punishing fraud perpetrators: Punishment serves as both a deterrent and a means of reinforcing the organization's commitment to ethical behavior.
* Comprehensive Objective Coverage:
* Effective fraud risk management includes preventative, detective, and corrective measures.
* Conclusion:All the listed objectives are essential components of a fraud risk management program.

NEW QUESTION # 174
Which of the following theories suggests that, when considering the possibility of violating a law. people are likely to ask themselves. "What will my spouse think if they find out?"
  • A. Cognitive theory
  • B. Behavioral theory
  • C. Social control theory
  • D. Operant theory
Answer: C
Explanation:
* Social Control Theory Overview:
* This theory posits that individuals consider social and personal relationships when deciding whether to commit a crime. They reflect on the potential consequences of their actions on their relationships and social standing.
* Application to the Scenario:
* The question of "What will my spouse think?" aligns directly with social control theory, as it involves weighing personal consequences within a social context.
* Analysis of Other Options:
* B. Operant theory: Focuses on behavior modification through rewards and punishments.
* C. Cognitive theory: Centers on thought processes and decision-making patterns.
* D. Behavioral theory: Examines the external influences on behavior, not personal social relationships.
* Conclusion:Social control theory best explains the scenario.

NEW QUESTION # 175
In a company with all of the following parties, who should have primary responsibility for the oversight of the organization s compliance program?
  • A. The chief ethics officer
  • B. The board of directors
  • C. General counsel
  • D. Internal audit
Answer: B

NEW QUESTION # 176
ABC. Inc. is a publicly traded, multi-national corporation. Which of the following statements is TRUE regarding the corporate governance requirements that ABC is subject to?
  • A. ABC must comply with specific listing standards for the stock exchange(s) on which it is listed
  • B. ABC is not required to comply with any corporate governance requirements because it operates in multiple jurisdictions
  • C. ABC is subject to the Universal Corporate Governance Act because it is a publicly traded corporation.
  • D. ABC is required to comply with G20/OECD Principles of Corporate Governance
Answer: A
Explanation:
* Corporate Governance Requirements for Public Corporations:
* Publicly traded companies must adhere to the listing standards of the stock exchanges where their shares are traded (e.g., NYSE or NASDAQ).
* B. G20/OECD Principles: These are guidelines, not binding requirements.
* C. No requirements: Incorrect; corporate governance regulations apply regardless of jurisdiction.
* D. Universal Corporate Governance Act: No such act exists globally.
* Conclusionublic corporations must comply with stock exchange-specific listing standards.

NEW QUESTION # 177
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