ACFE Exam CFE-Fraud-Prevention-and-Deterrence Topic 1 Question 91 Discussion

Actual exam question for ACFE's CFE-Fraud-Prevention-and-Deterrence exam

Question #: 91
Topic #: 1

[All CFE-Fraud-Prevention-and-Deterrence Questions]

According to the Committee of Sponsoring Organizations of the Treadway Commission's (COSO) Internal Control-integrated Framework (the Framework), there are five interrelated components of a company's internal control. Which of the following is NOT among these five components?

AMonitoring

BControl environment

CIndependent oversight

DInformation and communication

Show Suggested Answer

Suggested Answer: C

by Louann at Aug 22, 2024, 10:21 AM

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Alishia

7 months ago

Independent oversight? What is this, a corporate governance exam? Definitely not one of the COSO components. I'm going with C and hoping for the best!

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Mayra

7 months ago

Ugh, I hate these COSO questions. They're always so specific and confusing. But I think C is the right answer - independent oversight doesn't sound like it's part of the framework.

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Joseph

7 months ago

This is a tricky one! I'm leaning towards C) Independent oversight, but I could be wrong. Maybe they're trying to trick us with this question.

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Isabella

6 months ago

D) Information and communication

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Jonelle

6 months ago

C) Independent oversight

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Tatum

6 months ago

B) Control environment

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Edgar

7 months ago

A) Monitoring

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Dona

7 months ago

Haha, independent oversight? That sounds like something the higher-ups would want, but definitely not one of the COSO components. I'm going with C on this one.

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Nikita

6 months ago

So, we're all in agreement that the correct answer is C) Independent oversight, right?

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Maynard

7 months ago

Yeah, I'm pretty sure independent oversight is not one of the five components according to the COSO Framework.

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Micah

7 months ago

I think monitoring, control environment, and information and communication are definitely part of the COSO components.

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Lili

7 months ago

I agree, independent oversight does sound like something the higher-ups would want.

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Marguerita

8 months ago

Hmm, I'm not too sure about this one. I know monitoring, control environment, and information and communication are part of the COSO framework, but I can't recall if independent oversight is one of them.

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