ACFE CFE-Fraud-Prevention-and-Deterrence Exam - Topic 4 Question 71 Discussion

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

Question #: 71
Topic #: 4

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

Which of the following Is NOT a way that an organization's fraud risk assessment should be Incorporated Into the audit process?

AIt should be used to assess whether there is a moderate-to-high risk of management overriding controls within the moderate-to-high fraud risk areas.

BIt should be used to replace the auditor's own identification and assessment of fraud risks.

Cit should be used to increase awareness in the development of audit programs for areas that have been identified as having a moderate-to-high risk of fraud.

DIt should be used to design audit tests to evaluate whether the controls are operating effectively.

Show Suggested Answer

Suggested Answer: B

by Elly at Oct 05, 2023, 02:11 PM

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Timmy

3 months ago

D is crucial for ensuring controls are effective, no doubt!

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Dell

4 months ago

C makes sense, we need to be aware of high-risk areas!

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Natalie

4 months ago

Wait, can we really trust management not to override controls?

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Eric

4 months ago

Totally agree, A is essential for assessing risks!

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Micaela

4 months ago

B is definitely NOT how it should work.

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Sommer

5 months ago

I recall that fraud risk assessments are meant to enhance our audit approach, so I wonder if D could also be a contender for the answer.

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Vincent

5 months ago

I practiced a similar question where we had to identify what should not be included in the audit process. I think B stands out as the odd one out.

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Bethanie

5 months ago

I'm not entirely sure, but I feel like all the options relate to how we incorporate fraud risk into audits. Maybe I need to think more about what "not" means here.

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Becky

5 months ago

I remember discussing how fraud risk assessments shouldn't replace the auditor's own judgment, so I think B might be the answer.

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Miesha

5 months ago

Wait, I'm a little confused. Is the question asking about how the fraud risk assessment should NOT be used? I need to make sure I understand the question properly before selecting an answer.

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Okay, I think I've got this. The fraud risk assessment should be used to assess management override, increase awareness in audit program development, and design audit tests, but it shouldn't be used to replace the auditor's own identification and assessment of fraud risks. I'm feeling pretty confident about this one.

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Herman

5 months ago

This question is testing my understanding of how an organization's fraud risk assessment should be incorporated into the audit process. I'll need to carefully consider each option and think about which one is not a way it should be used.

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Dierdre

5 months ago

Hmm, this is a tricky one. I'm not entirely sure how the fraud risk assessment is supposed to be used in the audit process. I'll have to read through the options carefully and try to eliminate the one that doesn't fit.

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Leota

5 months ago

I'm a little confused by this question. I know there are some special device files in Linux, but I'm not sure which one is specifically used for redirecting unneeded data. I'll have to think about this one.

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Martha

5 months ago

Okay, let's see. The person is responding to a question, so it's not a mand. And it's not a tact since they're not just labeling something they see. I'm leaning towards intraverbal, but I'll double-check the definitions to be sure.

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Phyliss

5 months ago

Okay, let's see. The policy states that domain controllers can't communicate directly to the internet, and only required software should be installed. I think I'll need to consider which server best meets those criteria.

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Kattie

5 months ago

This looks like a straightforward question on split testing for email marketing. I think I can handle this one - the key is to identify the two factors that can be tested.

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