The Institute of Internal Auditors' (IIA) International Standards for the Professional Practice of Internal Auditing states that

• A.The internal auditor must apply the skill and care of an unbiased, infallible audit professional.
• B.The internal auditor must apply the skill and care of a reasonably prudent and competent internal auditor
• C.The internal auditor must apply the skill and care of an expert whose primary responsibility is detecting fraud.
• D.The internal auditor must apply the skill and care of an expert whose primary responsibility is investigating fraud

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Which of the following is an example of organizational crime?

• A.A salesman offering bribes to secure a contract
• B.An accounting clerk forging company checks to herself
• C.doctor conspiring with patients to file false health care insurance claims
• D.Management of several construction companies engaging in bid rigging

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Which of the following is FALSE regarding the process of defining the objective of the fraud risk management program?

• A.Management should tailor the detailed objectives of the fraud risk management program to the organization's specific needs and goals.
• B.Management must balance the investment in anti-fraud controls with the benefit of those controls and the amount of risk it is willing to accept.
• C.Management must assign a quantitative measure to its risk appetite so that it can accurately measure the fraud risk management program's effectiveness.
• D.Management should examine previous fraud occurrences to determine how the ideal fraud risk management program would have prevented tnem.

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Open-door management policies are a fraud prevention mechanism that addresses which leg of the Fraud Triangle?

• A.Opportunity
• B.Pressure
• C.Willingness
• D.Lack of integrity

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Consistently punishing perpetrators can be an effective fraud prevention mechanism.

• A.False
• B.True

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