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ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 9 Question 61 Discussion

The principle behind full disclosure is:
A) Any material deviation from GAAP must be explained to the reader of the financial information.
B) Any material deviation from SAS must be explained to the writer oh the financial information.
C) Any material deviation from GAAP must be explained to writer of the financial information.
D) None of above

ACFE CFE-Financial-Transactions-and-Fraud-Schemes Exam - Topic 9 Question 61 Discussion

Actual exam question for ACFE's CFE-Financial-Transactions-and-Fraud-Schemes exam
Question #: 61
Topic #: 9
[All CFE-Financial-Transactions-and-Fraud-Schemes Questions]

The principle behind full disclosure is:

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Suggested Answer: A

by Amie at Nov 15, 2022, 10:01 AM

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Veronique
10 months ago
I’m not so sure about A, seems a bit too simplistic.
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Marvel
10 months ago
Totally agree with A, full disclosure is key!
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Dalene
10 months ago
Wait, is it really just GAAP we’re talking about?
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Linette
11 months ago
I think D makes more sense, none of those options are clear.
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Chandra
11 months ago
A is definitely the right choice!
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Lashawna
11 months ago
I feel like I’ve seen this concept before, and it seems like the answer should be A since it mentions the reader, which makes sense for financial statements.
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Ashlyn
11 months ago
I’m a bit confused because I thought SAS was also important, but I can't recall how it relates to full disclosure.
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France
11 months ago
I remember practicing a question similar to this, and I think it was definitely about GAAP. So, I’m leaning towards A.
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Luz
11 months ago
I think the full disclosure principle is about explaining deviations from GAAP, but I'm not sure if it's option A or C.
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Felicidad
11 months ago
Okay, let me think this through step-by-step. OutGuess is a tool used to hide data within other data, so it must be for a steganography attack. I'll go with A.
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Hollis
11 months ago
Okay, I think I've got a good handle on this. I'll focus on discussing with the Product Owner to shift work to another iteration.
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Clement
11 months ago
This seems like a tricky question. I'll need to think carefully about the different indicators of a ransomware attack in an IBM Spectrum Protect environment.
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Eleonora
11 months ago
Based on my understanding, the main goal of a PIA is to assess the risk associated with personal data usage. I'm pretty confident that's the correct answer.
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