ACFE CFE-Fraud-Prevention-and-Deterrence Exam With Confidence Using Practice Dumps

ISA 240 requires auditors to effectively educate the staff about the risk of fraud within the audited organization.

ISA 240 establishes auditors as being primarily responsible for implementing anti-fraud internal controls within an organization.

ISA 240 provides guidance regarding the auditor's responsibility to consider fraud in an audit of financial statements.

ISA 240 creates requirements for the board of directors regarding the establishment of a holistic fraud risk management program.

The program must include mechanisms to address breaches in compliance.

The punishment for intentional noncompliance should be carried out in a consistent and firm manner.

Formal sanctions for intentional noncompliance should be determined and enacted privately

A specific individual or team should be designated as responsible for monitoring compliance with the program

The company should communicate that fraud, waste, and abuse are more likely to occur in large organizations than small ones.

The company should require employees with information about potential fraud to report it directly and only to their immediate supervisor.

Employees are held accountable for reporting tips that are not able to be substantiated

Employees should be informed that, to the extent possible, their names will not be disclosed.