Which of the following BEST reduces the risk of collusion among employees?

• A.Eliminating internal audits
• B.Relying solely on segregation of duties
• C.Independent monitoring and surprise reviews
• D.Reducing management oversight

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The objective of anti-fraud controls is to:

• A.Completely eliminate inherent fraud risk.
• B.Reduce the inherent fraud risk to a level that is significantly smaller than the residual fraud risk.
• C.Completely eliminate residual fraud risk
• D.Reduce the residual fraud risk to a level that is significantly smaller than the inherent fraud risk

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Which of the following statements is TRUE regarding how fraud examiners should exercise professional skepticism during a fraud examination engagement?

• A.Professional skepticism means beginning all assignments with the belief that something is amiss.
• B.Professional skepticism involves maintaining a mindset that no fraud has occurred
• C.Fraud examiners should form the engagement hypothesis without regard to the available preliminary information.
• D.Fraud examiners should not relax their skeptical attitudes under any circumstances.

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Which of the following is a detective anti-fraud control?

• A.Hiring policies and procedures
• B.Independent reconciliations
• C.Separation of duties
• D.Fraud awareness training

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An employee submits reimbursement requests for personal expenses disguised as business expenses. This scheme is BEST classified as:

• A.Corruption
• B.Billing fraud
• C.Expense reimbursement fraud
• D.Financial statement fraud

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