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ACFE CFE-Fraud-Prevention-and-Deterrence Exam - Topic 2 Question 62 Discussion

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as "a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance."
B) Fraud risk management
A) Corporate compliance
C) Risk assessment
D) Internal control

ACFE CFE-Fraud-Prevention-and-Deterrence Exam - Topic 2 Question 62 Discussion

Actual exam question for ACFE's CFE-Fraud-Prevention-and-Deterrence exam
Question #: 62
Topic #: 2
[All CFE-Fraud-Prevention-and-Deterrence Questions]

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as "a process, effected by an entity's board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance."

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Suggested Answer: B

by Carmelina at Feb 25, 2023, 03:30 PM

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Rory
7 months ago
Sounds too vague to be just internal control, right?
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Gerald
7 months ago
I thought it was corporate compliance at first!
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Daron
7 months ago
Wait, are we sure it's not risk assessment?
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Jaclyn
8 months ago
Totally agree, it's all about internal control.
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Leota
8 months ago
That's definitely internal control!
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Eve
8 months ago
I’m pretty certain it’s "Internal control." We had a similar question on our last mock exam that focused on the same definition.
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Sean
8 months ago
I’m leaning towards "Corporate compliance," but I recall there were nuances in how COSO defined different terms.
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Adell
8 months ago
I remember discussing COSO's framework, and I feel like "Risk assessment" was a key term, but it doesn't quite fit the definition given.
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Alpha
8 months ago
I think the answer might be "Internal control," but I'm not entirely sure. It sounds familiar from our last practice session.
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Krissy
8 months ago
Threatening to close the business seems too extreme; I doubt that's a recommended approach for stakeholder conflicts.
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Juliana
8 months ago
I'm pretty confident this is an "Enable the Export Route Control Subnet for the External Endpoint Group" kind of question. That's the best way to handle the prefix assignment.
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Talia
8 months ago
Hmm, I'm not sure about this one. I know R410A is a refrigerant, but I can't quite remember the specifics about its freezing properties. I'll have to think this through carefully.
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Corazon
1 year ago
Personally, I was hoping for a question about corporate compliance. That's my jam! But hey, I can't argue with D) Internal control being the right answer.
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Isabelle
1 year ago
D) Internal control all the way! COSO knows their stuff when it comes to this topic. I'm feeling confident about this one.
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Justine
1 year ago
Haha, I bet the exam writers are trying to trip us up with those other options. Nice try, but D) Internal control is the way to go!
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Kent
11 months ago
Definitely, they try to make it tricky but we know better.
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Jerry
11 months ago
Yeah, the other options are just distractions.
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Antonio
11 months ago
I agree, D) Internal control is the correct answer.
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Vilma
11 months ago
D) Internal control
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Eladia
12 months ago
C) Corporate governance
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Geraldo
12 months ago
B) Fraud prevention
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Rolland
12 months ago
A) Risk assessment
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Karma
1 year ago
I agree, D) Internal control is the best fit. COSO's focus on objectives, operations, reporting, and compliance is a clear description of internal control.
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Angella
12 months ago
A: It's all about providing assurance on achieving objectives, operations, reporting, and compliance.
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Deane
12 months ago
B: Yes, COSO's definition aligns perfectly with internal control.
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Dean
1 year ago
A: I think D) Internal control is the correct answer.
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Yasuko
1 year ago
I always make sure to follow internal control procedures to stay compliant.
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Daron
1 year ago
Yes, internal control is crucial for ensuring objectives are met.
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Helaine
1 year ago
Internal control is definitely the best fit for that definition.
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Rosalyn
1 year ago
D) Internal control seems like the correct answer. COSO's definition aligns with the concept of internal control.
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Ronald
12 months ago
Ensuring operations, reporting, and compliance are all covered.
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Raelene
12 months ago
It involves the board of directors, management, and personnel.
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Nydia
12 months ago
Yes, internal control is key for achieving objectives.
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Jerilyn
1 year ago
Internal control seems like the correct answer.
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Isabelle
1 year ago
Ensuring operations, reporting, and compliance are all part of it.
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Salena
1 year ago
It involves the board of directors, management, and other personnel.
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Marnie
1 year ago
Yes, internal control is crucial for achieving objectives.
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Rosann
1 year ago
Internal control seems like the correct answer.
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Velda
1 year ago
I'm not sure, but I think it's between C) Risk assessment and D) Internal control.
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Tran
1 year ago
I agree with In, internal control makes sense for ensuring objectives are achieved.
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In
1 year ago
I think the answer is D) Internal control.
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