ACFE Exam CFE-Fraud-Prevention-and-Deterrence Topic 2 Question 80 Discussion

Actual exam question for ACFE's Certified Fraud Examiner - Fraud Prevention and Deterrence Exam exam

Question #: 80
Topic #: 2

[All Certified Fraud Examiner - Fraud Prevention and Deterrence Exam Questions]

The internal auditor's fraud-related responsibilities include which of the following?

AEvaluating whether management is actively retaining responsibility for oversight of the fraud risk management program

BReporting to regulators regarding the entity's vulnerability to fraud

COverseeing management's actions to manage fraud risks

DAttesting that the organization's financial statements are free of material misstatements caused by fraud

Show Suggested Answer

Suggested Answer: A

by Gwenn at Apr 10, 2024, 03:50 PM

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Angelyn

10 days ago

Haha, a wild goose chase? More like a wild fraud chase! But seriously, I think A is the best answer here. We need to keep an eye on management, not just report to the regulators.

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Jettie

12 days ago

Wow, this is really getting heated. I'm just hoping the exam doesn't ask us to detect fraud on the spot. That would be a wild goose chase!

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Francine

13 days ago

You're all missing the point. Our job is to make sure the financials are squeaky clean, not just manage the risks. Option D is the only right answer here.

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Joanna

14 days ago

Hold up, guys. Aren't we supposed to be overseeing how management is actually handling those fraud risks? I'd say option C is the way to go.

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Chanel

16 days ago

I'm not so sure about that. I think our main job is to report any fraud vulnerabilities to the regulators, so I'd go with option B.

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Rosio

18 days ago

This is a great question! As an internal auditor, evaluating management's oversight of the fraud risk management program is definitely one of our key responsibilities. I would choose option A.

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