Question 1

Professional auditing standards require that auditors incorporate an "element of unpredictability" in the selection of auditing procedures to be performed.

Options :

A : True

B : False

Answer: A

Question 2

Which of the following would speed up the pick-up process at a warehouse?

Options :

A : Use an unified barcode system for every item within the warehouse

B : Categorize the items based on their pick-up frequency

C : Narrow down the aisles to enlarge total storage area

D : Combine goods-in and goods-out areas into one place

Answer: B

Question 3

Which of the following choices is an example of an anti-fraud control that is primarily preventive in nature?

Options :

A : Continuous audit techniques

B : Proactive data analysis techniques

C : Employee background checks

D : Whistleblower hotline

Answer: C

Question 4

Which of the following is LEAST LIKELY to be a factor that directors and management should consider when developing a corporate governance framework for an organization?

Options :

A : The organization's cultural environment

B : The organization's legal and regulatory environment

C : The organization's physical operating environment

D : The organization's ethical environment

Answer: C

Question 5

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as

"a process, effected by an entity's board of directors, management, andother personnel, designed to provide

reasonable assurance regarding the achievement of objectives relating to operations, reporting, and

compliance."

Options :

A : Corporate compliance

B : Fraud risk management

C : Risk assessment

D : Internal control

Answer: D

Free CFE-Fraud-Prevention-and-Deterrence Mock Exam – Practice Online Confidently

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