Forensic Accounting Mock Exam Study |100% Correct Answers|
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Forensic Accounting
Forensic Accounting Mock Exam Study
|100% Correct Answers|
Maurice Peloubet *Ans* Father of the term Forensic Accounting in 1946
James McCleland *Ans* Given credit for being the first Forensic Accountant
Gordon Brown *Ans* said "what the use of fingerprints was to the 19th century, and DNA to ...
Forensic Accounting Mock Exam Study
|100% Correct Answers|
Maurice Peloubet *Ans* Father of the term Forensic Accounting in 1946
James McCleland *Ans* Given credit for being the first Forensic Accountant
Gordon Brown *Ans* said "what the use of fingerprints was to the 19th century, and DNA to
the 20th century, forensic accounting will be to the 21st century
Authur Anderson *Ans* the external auditor during the WorldCom fraud
Frank Wilson *Ans* found the smoking gun to help catch Al Capone
What are the 6 areas of litigation services that an AICPA committee suggested in 1986?
*Ans* Damages, Valuation, Antitrust Analyses, General Consulting, Accounting, Analyses
Which is not one of the six areas of litigation services that an AICPA committee suggested in
1986? *Ans* Attestation
Wayne Bremser defined the modern role of forensic accounting to include four elements. Which
is not one of the four? *Ans* Appellate Support
,Wayne Bremser defined the modern role of forensic accounting to include four elements. What
are they? *Ans* Trail Support, Pretrial Support, Expert Witnessing, Settlement Support
In North America, forensic accounting can be traced as far back as 1817 to a ______________
court decision? What was it? *Ans* Canadian; Meyer verse Sefton
Who was the auditor for Sunbeam, Waste Management, Baptist Foundation of Arizona, and
Global Crossing? *Ans* Arthur Anderson
Who began to emphasize fraud detection in the FBI? *Ans* J. Edgar Hoover
The other name for the Committee of Sponsoring Organizations (COSO) is the
________________ Commission? *Ans* Treadway
"What the use of _____________________ was to the 19th century and _______________ was
to the 20th century, forensic accounting will be to the 21st century" *Ans* fingerprints; DNA
analysis
The three certain things in life: *Ans* death, taxes, and fraud
,Preemptory refers to __________________? *Ans* the fact that forensic accountants may
take a preventive approach as a result of normal operations
When comparing a forensic audit with a financial audit, which item would indicate a financial
audit? *Ans* Sampling process
Satyam means ___________? *Ans* truth
The two main provisions of the FCPA are ___________? *Ans* anti bribery provision
(Department of Justice) and accounting provision (SEC)
Sir Allen Standford's ponzi scheme stole more money than Bernie Madoff's? *Ans* False
The value examiner is published by: *Ans* NACVA
PCAOB is one of the sponsors of the Committee of Sponsoring Organizations (COSO)?
*Ans* False
Who are the sponsors for the COSO? *Ans* American Accounting Association, American
Institute of CPA, Finance Executives International, Institute of MGMT Accounting, Institute of
Internal Auditors
, The external auditor for WorldCom when it went bankrupt was ______? *Ans* Arthur
Anderson
The Panel on Audit Effectiveness was authorized by PCAOB? *Ans* False; POB
Which chairmen of the House Ways & Means Committee served time in prison and why?
*Ans* Dan Rostenkowski bc he embezzled public money in a cash-for-stamp scheme
Forensic Accounting is considered to be principles -based? *Ans* True
Sam Antar *Ans* "My goal was to have the auditors leave 80% of their male auditors as part
of his distraction strategy...It's like David Copperfiled; it's an illusion"
Forensic Accountant *Ans* may take on fraud auditing engagements and may be a fraud
auditor, but he will also use other accounting, consulting, and legal skills in broader
engagements. In addition, they will need a working knowledge of the legal system and excellent
communication skills for court
Forensic Accounting *Ans* Is the action of identifying, recording, settling, extracting,
sorting, reporting, and verifying past financial data or other accounting actives for settling
current or prospective legal disputes or using past financial data for projecting future data to
settle legal disputes
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