D551 Fraud and Forensic Accounting (multiple choice
versions questions and answers) new 2025-2026 Western
Governors University
Your answers
1 of 57
Term
What is a power of the PCAOB under the Sarbanes-Oxley Act?
A. conduct inspections of public accounting firms
B.conduct investigations of private accounting firms
C. register any accounting firm that prepares an audit
D.register private accounting firms that prepare audit reports
, C A
B D
Don't know?
2 of 57
Term
What is considered evidence that a company's products might be
illegitimate?
A. the company's cash balances are notably high
B.the company's success depends on high financial leverage
C. the company's success is independent of strong sales skills
D.the company is discouraging investors from putting money into
its company
C B
D A
Don't know?
,3 of 57
Term
Which statement is true about the detection of disclosure fraud?
A. disclosure fraud is easier to detect than financial fraud
B.symptoms of disclosure fraud are the same as other types of fraud
C. it is usually easier to detect misleading disclosures than
missing disclosures
C D
B A
Don't know?
, 4 of 57
Term
Why was the PCAOB established?
A. to regulate the fees that auditors charge their clients
B.to regulate the number of restatements provided each year
C. to regulate the number of clients that any auditor can serve
D.to regulate the non-audit services that audit firms may offer to
their audit clients
C A
B D
Don't know?
versions questions and answers) new 2025-2026 Western
Governors University
Your answers
1 of 57
Term
What is a power of the PCAOB under the Sarbanes-Oxley Act?
A. conduct inspections of public accounting firms
B.conduct investigations of private accounting firms
C. register any accounting firm that prepares an audit
D.register private accounting firms that prepare audit reports
, C A
B D
Don't know?
2 of 57
Term
What is considered evidence that a company's products might be
illegitimate?
A. the company's cash balances are notably high
B.the company's success depends on high financial leverage
C. the company's success is independent of strong sales skills
D.the company is discouraging investors from putting money into
its company
C B
D A
Don't know?
,3 of 57
Term
Which statement is true about the detection of disclosure fraud?
A. disclosure fraud is easier to detect than financial fraud
B.symptoms of disclosure fraud are the same as other types of fraud
C. it is usually easier to detect misleading disclosures than
missing disclosures
C D
B A
Don't know?
, 4 of 57
Term
Why was the PCAOB established?
A. to regulate the fees that auditors charge their clients
B.to regulate the number of restatements provided each year
C. to regulate the number of clients that any auditor can serve
D.to regulate the non-audit services that audit firms may offer to
their audit clients
C A
B D
Don't know?
