Harry is an internal auditor with ABC Company. Harry ' s supervisor, the chief audit executive (CAE), is the fraud risk assessment sponsor and has tasked Harry with drafting an email communication regarding ABC ' s upcoming fraud risk assessment process. Which of the following is a best practice that Harry should implement?

• A.Harry ' s communication should encourage employees to participate in the assessment process.
• B.Harry should find a generic template to use as the primary communication to the entire staff.
• C.Harry ' s communication should be sent to the entire staff from his own email address.
• D.Harry should keep the communication private and only share it with executive management.

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According to the 2020 Report to the Nations.___________schemes ate the MOST COMMON form of occupational fraud, while_________schemes are the MOST COSTLY form of occupational fraud.

• A.Asset misappropriation; corruption
• B.Corruption, asset misappropriation
• C.Financial statement fraud: corruption
• D.Asset misappropriation: financial statement fraud

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Which of the following is NOT a factor that directors and management should consider when developing a corporate governance framework for an organization?

• A.The ability of the framework to remain static during changes in the corporate landscape
• B.The legal and regulatory environment in which the organization operates
• C.The organization's cultural environment
• D.The organization's ethical environment

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Which of the following is FALSE regarding the fraud risk assessment learn?

• A.The team members might include both internal and external sources.
• B.The team should consist of individuals with diverse knowledge, skills, and perspectives
• C.The team size should be limited to a maximum of three individuals
• D.The team members should have experience in gathering and eliciting information

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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 is NOT a way that Oak's audit team should use the fraud risk assessment process and results as part of their audits?

• A.To confirm whether there is conclusive evidence that fraud is occurring within the company.
• B.To design audit tests to evaluate whether fraud risk controls are operating effectively.
• C.To inform the development of audit programs for areas that have been identified as having a high risk of fraud.
• D.To validate whether the organization is appropriately managing moderate-to-high fraud risks.

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