Which of the following would MOST LIKELY be a violation of the ACFE Code of Professional Ethics?

• A.Green a CFE, uncovered several material internal control deficiencies unrelated to the financial statement fraud he was investigating. In his final report to management. Green included information about the deficiencies even though they were unrelated to the situation he was hired to investigate.
• B.Stephanie, a CFE, accepted a fraud examination assignment and then instructed a lower-level employee to assess the company's cash records for signs of fraud. She took his word when he said there was no evidence of wrongdoing and ended up failing to uncover a very costly fraud scheme.
• C.Susan, a CFE, was hired by a client to conduct a fraud examination but found nothing amiss A year later, she received a legal order from the local prosecutor's office to provide the client's file. Susan complied with the court order, even though she did not have the client's authorization to do so.
• D.All of the above are violations

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Which of the following is NOT included in the five fraud risk management principles described

• A.Developing one-time evaluations for each fraud risk management principle
• B.Communicating the expectations of those governing the fraud risk management program
• C.Deploying preventive and detective fraud control activities to mitigate fraud risk
• D.Performing comprehensive fraud risk assessments to identify specific fraud schemes

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

• A.Internal audit
• B.Confession
• C.Tips
• D.External audit

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Luis, the internal audit manager for Oak Corporation, is working to formally incorporate the company's fraud risk assessment into its audit process. Which of the following options BEST describes how Oak's audit team should use the fraud risk assessment process and results as part of its audits?

• A.To confirm whether there is conclusive evidence that fraud is occurring within the company.
• B.To inform the development of audit programs for areas that have been identified as having any risk of fraud, regardless of the risk level.
• C.To design audit tests to evaluate whether the company's anti-fraud controls are operating effectively and efficiently.
• D.To validate whether the organization is appropriately managing its low-to-moderate fraud risks.

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Andrew, an internal auditor, is formalizing a process to identify and evaluate threats to his company's ability to achieve its objectives. Andrew's initiative BEST pertains to which component of the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control-Integrated Framework?

• A.Monitoring
• B.Control environment
• C.Risk assessment
• D.Control activities

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