CFE: Fraud Prevention and Deterrence|Questions with 100% correct solutions |Verified
CFE: Fraud Prevention and Deterrence Effective training programs ANSWER- U.S. Corporate Sentencing Guideline makes them necessary, also periodically & appropriately communicate program’s compliance requirements & procedures to all employees affected by the program, including upper-level personnel - Programs: inform employees about company’s stance on corporate compliance and about what kinds of acts and omissions are prohibited by the law and by the organization. Information and communication ANSWER- component of COSO’s Internal Control-Integrated Framework: exchange of info so employees can carry out their internal control responsibilities and achieve the organization’s objectives Organization’s principles: • obtain or generate & use relevant, quality info to support the functioning of internal control. • internally communicate info, like objectives & responsibilities for internal control, necessary to support the functioning of internal control. • communicate with external parties on matters affecting the functioning of internal control. Gathering information during a fraud risk assessment ANSWER- • Interviews: effective way to conduct candid one-on-one conversations with employees • Focus groups: enable the assessor to observe the interactions among a group of employees as they collectively discuss a question or issue • Survey: electronic or paper questionnaires , anonymous or directly attributable to participants • Anonymous feedback mechanisms: means for anonymous employee suggestions or responses
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cfe fraud prevention and deterrence