AGA Exam CGFM Topic 4 Question 41 Discussion

Actual exam question for AGA's CGFM exam

Question #: 41
Topic #: 4

[All CGFM Questions]

Which of the following is a forensic technique used to quantify the impact of fraud?

Atest of controls

Bcomputer-assisted audit techniques

Cdata integrity

Dbenchmarking

Show Suggested Answer

Suggested Answer: D

by Hubert at Mar 09, 2024, 05:22 PM

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Verdell

2 months ago

I'm torn between B) and D), but I think B) is the way to go. Auditors love their fancy computer tools, so that's gotta be the forensic technique they use.

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Paul

1 months ago

Yeah, B) computer-assisted audit techniques is definitely the way to go. It's all about leveraging technology for fraud investigations.

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Ilene

1 months ago

I agree, B) seems like the most advanced forensic technique. It's all about using computers to catch fraudsters.

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Grover

2 months ago

I think B) computer-assisted audit techniques is the best choice. Auditors rely on technology for fraud detection.

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Wava

3 months ago

A) test of controls is my pick. Evaluating the effectiveness of internal controls can provide insights into the potential for fraud and its magnitude.

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Fannie

1 months ago

C) data integrity is important in detecting and preventing fraud, but it may not directly quantify the impact of fraud like the other options.

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Frederic

2 months ago

B) computer-assisted audit techniques can also be useful in quantifying the impact of fraud by analyzing large amounts of data efficiently.

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Georgiann

2 months ago

A) test of controls is my pick. Evaluating the effectiveness of internal controls can provide insights into the potential for fraud and its magnitude.

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Kristian

3 months ago

I'm not sure, but I'm leaning towards C) data integrity. Ensuring the accuracy and completeness of financial data is crucial in detecting and quantifying fraud.

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Galen

1 months ago

B: Good point, it's important to consider multiple forensic techniques to accurately quantify the impact of fraud.

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Odette

1 months ago

A: That's true, but don't forget about A) test of controls, which can help assess the effectiveness of internal controls in preventing fraud.

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Dortha

2 months ago

B: I agree, using technology to analyze large amounts of data can help uncover suspicious patterns.

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Leonard

2 months ago

A: I think B) computer-assisted audit techniques could also be useful in quantifying fraud.

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Rene

3 months ago

D) benchmarking seems like a reasonable choice to me. Comparing the organization's performance to industry standards could reveal unusual deviations that may indicate fraudulent activity.

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Lamar

2 months ago

B) computer-assisted audit techniques can help in analyzing large amounts of data quickly to identify potential fraudulent transactions.

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Carolann

3 months ago

A) test of controls could also be useful in detecting fraud by evaluating the effectiveness of internal controls.

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Karon

3 months ago

I'm not sure, but I think data integrity could also be used to quantify fraud impact.

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Sina

3 months ago

I think the correct answer is B) computer-assisted audit techniques. These techniques are commonly used in forensic accounting to analyze large data sets and identify patterns of fraud.

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