Fraud awareness training should be:

Question $1$Select one:

a$.$

Broad and all$-$encompassing.

b$.$

Extensive and include details for all functional areas.

c$.$

Focused on employees understanding the importance of ethics.

Identify the factor that best relates to attitudes or rationalization to commit fraudulent financial reporting?

Question $2$Select one:

a$.$

Significant accounting estimates involving subjective judgments.

b$.$

Excessive pressure for management to meet debt repayment requirements.

c$.$

High turnover of accounting, internal audit and information technology staff.

Indicate which of the following parties in the organization is responsible for implementing internal controls to minimize the likelihood of fraud?

Question $4$Select one:

a$.$

External auditors.

b$.$

Audit committee members.

c$.$

Management.

d$.$

Committee of Sponsoring Organizations.

Indicate which of the following statements best describes circumstances that underlie employee incentives to misappropriate assets?

Question $5$Select one:

a$.$

Dissatisfied employees may steal from a sense of entitlement.

b$.$

Weak internal controls encourage employees to take chances.

c$.$

If management cheats customers and gets away with it$,$ then employees believe they can do the same to the company.

One can accurately state that misappropriation of assets is normally perpetrated by:

Question $6$Select one:

a$.$

members of the board of directors.

b$.$

employees at lower levels of the organization.

c$.$

management of the company.

d$.$

the internal auditors.

Select the best answer from the following that is not a factor that relates to opportunities to commit fraudulent financial reporting?

Question $7$Select one:

a$.$

Lack of controls related to the calculation and approval of accounting estimates.

b$.$

Ineffective oversight of financial reporting by the board of directors.

c$.$

High turnover of accounting, internal audit, and information technology staff

Select the factor that relates to incentives or pressures to commit fraudulent financial reporting?

Question $8$Select one:

a$.$

Significant accounting estimates involving subjective judgments.

b$.$

Excessive pressure for management to meet debt repayment requirements.

c$.$

High turnover of accounting, internal audit, and information technology staff.

Situations that indicate an incentive or pressure to commit fraud or provide an opportunity to commit fraud are called as:

Question $9$Select one:

a$.$

Fraud risk factors.

b$.$

misappropriation of assets.

c$.$

Fraud opportunities.

d$.$

Property frauds.

The most effective and practical ways to prevent and deter fraud is$?$

Question $10$Select one:

a$.$

Implement programs and controls that are based on core values embraced by the company.

b$.$

Hire highly ethical employees.

c$.$

Communicate expectations to all employees on an annual basis.

d$.$

Terminate employees who are suspected of committing fraud.

Which of the following is least likely to uncover fraud?

Question $11$Select one:

a$.$

External auditors.

b$.$

Internal auditors.

c$.$

Internal controls.

d$.$

Management.

Which of the following is not a factor that relates to opportunities to commit fraudulent financial reporting?

Question $12$Select one:

a$.$

Lack of controls related to the calculation and approval of accounting estimates.

b$.$

Ineffective oversight of financial reporting by the board of directors.

c$.$

High turnover of accounting, internal audit, and information technology staff

Which of the following is not a likely source of information to assess fraud risks?

Question $13$Select one:

a$.$

Communications among audit team members.

b$.$

Inquiries of management.

c$.$

Analytical procedures.

d$.$

Consideration of fraud risks discovered during recent audits of other clients.

Which of the following is not an approach to anti$-$fraud control measures?

Question $14$Select one:

a$.$

Know exposure to fraud risks or vulnerabilities.

b$.$

Detect the gaps in the existing fraud prevention and detection control measures.

c$.$

Recommend remediation measures and tools to implement. Treat the fraud signals.