Question :
11) Which of the following a proactive employee strategy of : 1222534
11) Which of the following is a proactive employee strategy of fraud deterrence?
A) perception of detection
B) analysis of financial statement
C) analysis of statistical data
D) employee contracts
12) Which of the following forensic accounting services primarily focuses on determining who committed the fraud, the scheme of the fraud, the time frame and duration, how much was taken, and who else was involved?
A) fraud detection
B) fraud deterrence
C) fraud examination
D) fraud anticipation
13) Which of the following forensic accounting investigation services includes proactive employee strategies such as preemployment screening, employee training, and employee monitoring strategies?
A) fraud detection
B) fraud deterrence
C) fraud examination
D) fraud anticipation
14) Which of the following best describes a whistle blower complaint?
A) It is an informal disclosure of personal issues of an employee with other employees within an organization.
B) It is a disclosure by a person of wrong doing or misconduct within an organization.
C) It is an annual complaint forum designed to discuss issues of an organization.
D) It is a complaint raised by the SEC toward an organization.
15) Which of the following is the most significant practice component of forensic accounting As indicated by the results of a 2011 AICPA survey?
A) bankruptcy
B) business valuations
C) insolvency and reorganization
D) computer forensic analysis
16) Which of the following are the two major components of forensic accounting services?
A) fraud detection services and fraud deterrence services
B) expert services and consulting services
C) investigative services and litigation services
D) fraud examination services and business valuations services
17) Which of the following is a difference between an external auditor and a forensic accountant?
A) An external auditor captures and records all economic transactions of the organization, whereas a forensic accountant ensures compliance with policy and procedures.
B) An external auditor manages the organization’s accounting and internal control system, whereas a forensic accountant validates effectiveness of controls in various processes or areas of the organization.
C) An external auditor adds credibility to reported financial information, whereas a forensic accountant provides assurance that management is adequately identifying and mitigating risks.
D) An external auditor forms an opinion on the overall financial statements taken as a whole, whereas a forensic accountant addresses a specific question/issue.
18) Which of the following is a difference between an internal auditor and an external auditor?
A) An internal auditor conducts the audit because a deficiency has been identified, whereas an external auditor conducts audits on a recurring basis.
B) An internal auditor manages accounting and internal control of an organization, whereas an external auditor examines the financial data of an organization.
C) An internal auditor’s reports are used by the users of the financial statements, whereas the external auditor’s reports are used by the management and internal auditor.
D) An internal auditor reports on the level of compliance with a company’s internal policies, whereas the external auditor reports on the level of compliance with external laws and regulations.
19) Which of the following is true of transactional accountants?
A) They evaluate the internal control systems of an organization and test the accounts to ensure that all economic events are recorded and reported properly.
B) They form and express an opinion as to whether an organization’s financial statements, taken as a whole, reflect its financial position on a given date and the results of its operations for a given period.
C) They report on the adequacy of internal controls, the accuracy and propriety of transactions.
D) They employ generally accepted accounting principles (GAAP) to process information useful in decision making.
20) The internal auditor’s functions exist to support the other three representatives of an organization:
A) the board of directors, executive management, and the external auditor.
B) the board of directors, executive management, and the transactional accountant.
C) the transactional accountant, board of directors, and the external auditor.
D) the transactional accountant, executive management, and the external auditor.
