ACFE CFE-Financial-Transactions-and-Fraud-Schemes Dumps

Organizations that had external audits actually had higher median losses and longer lasting fraud schemes than those organizations that were not audited.

A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:

A tangible asset is one which is:

__________ is required if and when officers, executives or other persons in trusted positions become subjects of a criminal indictment.

A variation between the physical inventory and the perpetual inventory totals is called:

_________ is defined as a person who works for the victim organization and who is primary culprit

The forms that allow noncash assets to be moved from one location in a company to another can be used to facilitate the misappropriation of those assets are called:

By what accountant means that the financial figures presented by the company are at least as much as reflected in the statements, if not more.

Another way to eliminate competition in the solicitation phase of the selection process is to:

“Anticipate possible losses and omit potential profits”, this results in:

Which of the following is NOT the aspect of inventory purchase?

Which of the following is NOT the phase of the bidding process?

The scheme which reduces victim companies to issue fraudulent payments for goods or services that they have not received is called:

Physical tampering prevention is a check tampering technique that is used to secure bank assisted controls.

One of the simplest ways to justify unacceptable conduct and avoid guilt feelings is to invent a good reason for ________.

When an incorrect total is carried from the journal to the ledger or from ledger to the financial statements, this method is called:

The most common method for billing scheme is:

According to Marshall, ______ are probable future economic benefits obtained or controlled by a particular entity as a result of past transactions or events.

Every bribe is a two-sided transaction, in which where a vendor bribes a purchaser, there is someone on the vendor’s side of the transaction who is not making an illicit payment.

Occupational fraud and abuse is a (an) __________ of doing business, in much the same way that we pay expenses for electricity, taxes and wages.

The most common method of detection in corruption cases is:

____________ corrupt employees can cause inventory to be fraudulently delivered to themselves or accomplices.

A running count that records how much inventory should be on hand is referred to:

False billing scheme states that:

Bid-rigging scheme occurs when:

Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?

Any expenses that are incurred but not paid by the end of the year are counted in our records of profit and loss, are called: