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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 10 Question 86 Discussion

What is sometimes used to overcome well-designed internal controls of a victim company?
C) Collusion
A) Shell company
B) Fraudulent invoices
D) Rubber stamp supervisors

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 10 Question 86 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 86
Topic #: 10
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

What is sometimes used to overcome well-designed internal controls of a victim company?

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Suggested Answer: C

by Anjelica at Apr 30, 2024, 01:37 AM

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Jodi
9 months ago
Shell companies are sneaky but often get caught eventually.
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Tamekia
9 months ago
Fraudulent invoices can slip through if not monitored closely.
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Caitlin
10 months ago
Wait, are we sure collusion is that effective? Seems risky.
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Naomi
10 months ago
Totally agree, collusion can really undermine security!
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Joseph
10 months ago
Collusion is a common tactic used to bypass controls.
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Tonette
10 months ago
Rubber stamp supervisors sound familiar, but I can't recall if they specifically relate to overcoming internal controls.
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Nadine
11 months ago
Shell companies could also be a way to circumvent controls, but I feel like collusion is more direct.
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Lenna
11 months ago
I remember something about fraudulent invoices being a common tactic, but I'm not entirely sure if that's the best choice here.
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Candra
11 months ago
I think collusion might be the answer since it involves multiple people working together to bypass controls.
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Chaya
11 months ago
Hmm, I'm not totally sure about this one. I'll have to think it through carefully and consider all the options.
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Azalee
11 months ago
Collusion is the first thing that comes to mind as a way to bypass internal controls. I'm pretty confident that's the right answer.
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Mireya
11 months ago
This question seems straightforward, but I want to make sure I understand the concepts before selecting an answer.
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Queenie
11 months ago
Shell companies and fraudulent invoices are tricky ways to get around controls, but I think collusion is the most effective approach in this case.
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Lavera
11 months ago
This seems like a straightforward question about employee benefits. I'll focus on the key details - that the benefits are expected to be settled within 12 months and relate to services rendered in the current reporting period.
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Susana
11 months ago
I remember that we need to calculate the gain based on the difference between replacement cost and carrying amount, but I'm not sure how the deductible impacts that.
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Lonna
11 months ago
Based on the requirement to minimize costs, I think Cloud Storage buckets might be the way to go. But I'll double-check the pricing and features to be sure.
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Edelmira
2 years ago
Makes sense. Internal controls rely on segregation of duties.
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Beckie
2 years ago
Because it involves multiple people bypassing controls.
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Rolf
2 years ago
Why collusion?
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Beckie
2 years ago
I think the answer is collusion.
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Edelmira
2 years ago
I agree. Internal controls are tough to bypass.
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Davida
2 years ago
This question is tricky.
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