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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
10 months ago
Sounds too vague to be just internal control, right?
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Gerald
10 months ago
I thought it was corporate compliance at first!
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Daron
10 months ago
Wait, are we sure it's not risk assessment?
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Jaclyn
11 months ago
Totally agree, it's all about internal control.
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Leota
11 months ago
That's definitely internal control!
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Eve
11 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
11 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
11 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
11 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
11 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
11 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
11 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
1 year ago
Definitely, they try to make it tricky but we know better.
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Jerry
1 year ago
Yeah, the other options are just distractions.
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Antonio
1 year ago
I agree, D) Internal control is the correct answer.
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Vilma
1 year ago
D) Internal control
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Eladia
1 year ago
C) Corporate governance
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Geraldo
1 year ago
B) Fraud prevention
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Rolland
1 year 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
1 year ago
A: It's all about providing assurance on achieving objectives, operations, reporting, and compliance.
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Deane
1 year 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
1 year ago
Ensuring operations, reporting, and compliance are all covered.
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Raelene
1 year ago
It involves the board of directors, management, and personnel.
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Nydia
1 year 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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