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ACFE CFE-Investigation Exam - Topic 4 Question 107 Discussion

Management at Oak Company has asked Arthur, an internal auditor, to implement a data analysis program to search for warning signs of potential fraud within the company. Which of the following steps should Arthur conduct first to MOST effectively use data analysis techniques for such an initiative?
A) Analyze the data.
B) Cleanse and normalize the data
C) Build a profile of potential frauds.
D) Obtain the data.

ACFE CFE-Investigation Exam - Topic 4 Question 107 Discussion

Actual exam question for ACFE's CFE-Investigation exam
Question #: 107
Topic #: 4
[All CFE-Investigation Questions]

Management at Oak Company has asked Arthur, an internal auditor, to implement a data analysis program to search for warning signs of potential fraud within the company. Which of the following steps should Arthur conduct first to MOST effectively use data analysis techniques for such an initiative?

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Suggested Answer: A

by Kristal at Mar 06, 2025, 09:18 PM

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Sherron
6 months ago
Cleansing and normalizing data helps in accurate analysis later on.
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Maia
6 months ago
Building a profile of frauds seems like a solid next step too.
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Jeannine
7 months ago
Wait, why would you cleanse data before knowing if it's complete?
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Huey
7 months ago
Definitely agree! You can't analyze what you don't have.
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Gilma
7 months ago
I think obtaining the data first is crucial.
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Adolph
7 months ago
I guess it could be a mix of steps, but I lean towards cleansing the data first. It seems like a necessary foundation for effective analysis.
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Emiko
8 months ago
Building a profile of potential frauds sounds important too, but I feel like that comes after you have the data in hand.
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Charlene
8 months ago
I'm not so sure. I remember a practice question where cleansing and normalizing the data was emphasized as crucial before any analysis.
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Rikki
8 months ago
I think the first step should be obtaining the data. Without the right data, how can you analyze anything?
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Alex
8 months ago
I'm a little confused. Wouldn't analyzing the data be the most effective first step? That's what the question is asking about, so I'm leaning towards option A.
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Willie
8 months ago
Okay, I've got this. The question is asking about the first step, so I'm going to go with option B and cleanse and normalize the data. That's crucial before you can really analyze anything.
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Michell
8 months ago
Hmm, I'm a bit unsure here. Should I focus on cleansing and normalizing the data first, or building a profile of potential frauds? I'll have to think this through carefully.
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Arletta
8 months ago
This seems straightforward - I think the first step would be to obtain the data, so I'll go with option D.
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Tresa
1 year ago
Forget the data, let's just go with our gut instinct! I bet Ciara can smell a fraud a mile away.
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Shalon
12 months ago
D) Obtain the data.
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Kati
12 months ago
C) Build a profile of potential frauds.
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Cordelia
1 year ago
B) Cleanse and normalize the data
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Coral
1 year ago
A) Analyze the data.
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Teri
1 year ago
Hmm, I'm not so sure. Analyzing the data first might give us a better sense of what we're dealing with, you know?
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Youlanda
1 year ago
But wouldn't building a profile of potential frauds help in identifying the right data to analyze?
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Raymon
1 year ago
Building a profile of potential frauds sounds like a great idea! That'll help us target our search more effectively.
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Freeman
1 year ago
C) Build a profile of potential frauds.
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Tambra
1 year ago
B) Cleanse and normalize the data
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Estrella
1 year ago
A) Analyze the data.
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Maryrose
1 year ago
I think cleansing and normalizing the data is the way to go. Gotta make sure the data is clean and consistent, you know?
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Tasia
1 year ago
D) Obtain the data.
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Sheridan
1 year ago
C) Build a profile of potential frauds.
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Beata
1 year ago
B) Cleanse and normalize the data
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Honey
1 year ago
A) Analyze the data.
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Ciara
1 year ago
Obviously, I need to obtain the data first before I can analyze or do anything else. This is a no-brainer!
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Brice
1 year ago
I agree with Nidia. Cleansing and normalizing the data is crucial for accurate analysis.
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Nidia
1 year ago
I think Arthur should cleanse and normalize the data first.
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