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NEW QUESTION 93
Verify supporting documentation on outstanding checks written for a material amount is a test used to conduct for:
- A. Bank confirmation
- B. Check disbursement
- C. Bank confirmation
- D. Cut-off statements
Answer: C
Explanation:
Section: Investigation
NEW QUESTION 94
The more power a person has over the bidding process, the more likely the person can influence the selection of a supplier.
- A. True
- B. False
Answer: A
NEW QUESTION 95
Which check tampering red flag may indicate employees have embezzled cash and charged the embezzlement to expense accounts?
- A. Duplicate checks
- B. Voided checks
- C. Missing checks
- D. Payable checks
Answer: C
Explanation:
Section: Investigation
NEW QUESTION 96
The behavior profile of employees who are involved in bribery schemes may include:
- A. All of the above
- B. Extravagant lifestyle
- C. Drug and/or alcohol addiction
- D. Gambling habit
Answer: A
NEW QUESTION 97
Which of the following is NOT the phase of the bidding process?
- A. Presolicitation
- B. Postsolicitation
- C. Solicitation
- D. Submission
Answer: B
NEW QUESTION 98
Collusion or bid-rigging between bidders is called
- A. Contract acceptance
- B. To withdraw low bids
- C. Bid solicitation
- D. Bribery receipt
Answer: A
NEW QUESTION 99
A process by which several bidders conspire to split contracts up and ensure that each gets a certain amount of work is called:
- A. Bid opening
- B. Bid pooling
- C. Fictitious Bidding
- D. Bid log
Answer: B
NEW QUESTION 100
Skimming cases can more likely to be detected by:
- A. occupational frauds
- B. Internal audits
- C. Accidents
- D. Internal controls
Answer: C
NEW QUESTION 101
Which of the following is true for Red flags associated with fictitious revenues?
- A. Usual growth in the number of days purchase in receivables
- B. A usual surge in purchase by a majority of units within a company, or of purchase recorded by corporate headquarters.
- C. Slow growth or usual profitability, when not compared to other companies in the same industry.
- D. A significant volume of sales to entries whose substance and ownership is not known.
Answer: D
NEW QUESTION 102
Collusion or bid-rigging between bidders is called
- A. Contract acceptance
- B. To withdraw low bids
- C. Bid solicitation
- D. Bribery receipt
Answer: A
NEW QUESTION 103
The person or persons who have access to __________ are often the targets of unethical vendors seeking an advantage in the process.
- A. Bid-splitting
- B. Tailor specifications
- C. General purchasing
- D. Sealed bids
Answer: D
NEW QUESTION 104
How many accounts are affected in fraudulent accounting entries and therefore same number of categories on the financial statement?
- A. At least two
- B. None of above
- C. More than two
- D. One
Answer: D
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 105
Physical assets including _________ and ________ are the most commonly misappropriated noncash asset in our study.
- A. Inventory & Purchase
- B. Interest & Collusion
- C. Inventory & Equipment
- D. Sales & Equipment
Answer: C
NEW QUESTION 106
Employees steal an incoming payment and then place the incoming funds in an interest bearing account for:
- A. Short-term skimming
- B. Concealing the fraud
- C. All of the above
- D. Converting stolen checks
Answer: A
Explanation:
Section: Financial Transactions and Fraud Schemes
NEW QUESTION 107
What is sometimes used to overcome well-designed internal controls of a victim company?
- A. Shell company
- B. Collusion
- C. Rubber stamp supervisors
- D. Fraudulent invoices
Answer: B
NEW QUESTION 108
According to Hollinger and Clark for Policy development, management must pay attention to:
- A. Both A & B
- B. Enforcement of sanctions
- C. Neither A nor B
- D. A clear understanding regarding theft behavior
Answer: A
Explanation:
Section: Investigation
NEW QUESTION 109
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