Forensic Accounting Exam 1. Ch. 1-4
Questions With Correct Answers
Time |- |CORRECT |ANSWER✔✔-Forensic |accounting |focuses |on |the |past, |although |it |may |do |so |
in |order |to |look |forward.
What |is |forensic |accounting's |purpose? |- |CORRECT |ANSWER✔✔-Forensic |accounting |is |
performed |for |a |specific |legal |forum |or |in |anticipation |of |presentation |before |a |legal |forum.
Peremptory |- |CORRECT |ANSWER✔✔-Forensic |accountants |may |be |employed |in |a |wide |variety |
of |risk |management |engagements |within |business |enterprise |as |a |matter |of |right, |without |the |
necessity |of |allegations |(e.g., |proactive).
Two |Forensic |Accounting |Broad |Areas |- |CORRECT |ANSWER✔✔-Investigative |Accounting |& |
Litigation |Support
Litigation |services |provided |by |F.A.s |- |CORRECT |ANSWER✔✔-Damages
Antitrust |analyses
Valuation
Accounting
General |Consulting
Analyses
Additional |Procedures |in |forensic |audit |- |CORRECT |ANSWER✔✔-Interviews |and |leveraging |
techniques
Document |inspection
, Public |records |search
Legal |knowledge |regarding |rules |of |evidence
Top |10 |Topics |in |Forensic |ACC |Curricula |(1-5) |- |CORRECT |ANSWER✔✔-1. |Fundamentals |of |
fraud
2. |Financial |statement |fraud
3. |Types |of |fraud.
4. |Cooking |the |books |and |problems |in |accounting.
5. |Elements |of |fraud: |pressure, |opportunity, |and |rationalization.
Top |10 |Topics |in |Forensic |ACC |Curricula |(6-10) |- |CORRECT |ANSWER✔✔-6. |Anti |fraud |controls
7. |Internal |control |evaluation
8. |Theory |and |methodology |of |fraud |examination.
9. |Principles |of |ethics |and |corporate |code |of |conduct.
10. |Fraud |detection |and |deterrence |programs.
Knowledge, |skills, |and |abilities |needed |by |forensic |accountant |- |CORRECT |ANSWER✔✔-Law, |
legal |system, |courts, |and |courtroom |procedure.
Forensic |Accounting |knowledge |base |- |CORRECT |ANSWER✔✔-Law.
Criminology.
Investigative |auditing.
Accounting.
Transaction |oddities |in |employee |crimes |that |forensic |accountants |look |for |- |CORRECT |
ANSWER✔✔-Time |(of |day, |week, |month, |year, |or |season).
Frequency |(too |many, |too |few).
Questions With Correct Answers
Time |- |CORRECT |ANSWER✔✔-Forensic |accounting |focuses |on |the |past, |although |it |may |do |so |
in |order |to |look |forward.
What |is |forensic |accounting's |purpose? |- |CORRECT |ANSWER✔✔-Forensic |accounting |is |
performed |for |a |specific |legal |forum |or |in |anticipation |of |presentation |before |a |legal |forum.
Peremptory |- |CORRECT |ANSWER✔✔-Forensic |accountants |may |be |employed |in |a |wide |variety |
of |risk |management |engagements |within |business |enterprise |as |a |matter |of |right, |without |the |
necessity |of |allegations |(e.g., |proactive).
Two |Forensic |Accounting |Broad |Areas |- |CORRECT |ANSWER✔✔-Investigative |Accounting |& |
Litigation |Support
Litigation |services |provided |by |F.A.s |- |CORRECT |ANSWER✔✔-Damages
Antitrust |analyses
Valuation
Accounting
General |Consulting
Analyses
Additional |Procedures |in |forensic |audit |- |CORRECT |ANSWER✔✔-Interviews |and |leveraging |
techniques
Document |inspection
, Public |records |search
Legal |knowledge |regarding |rules |of |evidence
Top |10 |Topics |in |Forensic |ACC |Curricula |(1-5) |- |CORRECT |ANSWER✔✔-1. |Fundamentals |of |
fraud
2. |Financial |statement |fraud
3. |Types |of |fraud.
4. |Cooking |the |books |and |problems |in |accounting.
5. |Elements |of |fraud: |pressure, |opportunity, |and |rationalization.
Top |10 |Topics |in |Forensic |ACC |Curricula |(6-10) |- |CORRECT |ANSWER✔✔-6. |Anti |fraud |controls
7. |Internal |control |evaluation
8. |Theory |and |methodology |of |fraud |examination.
9. |Principles |of |ethics |and |corporate |code |of |conduct.
10. |Fraud |detection |and |deterrence |programs.
Knowledge, |skills, |and |abilities |needed |by |forensic |accountant |- |CORRECT |ANSWER✔✔-Law, |
legal |system, |courts, |and |courtroom |procedure.
Forensic |Accounting |knowledge |base |- |CORRECT |ANSWER✔✔-Law.
Criminology.
Investigative |auditing.
Accounting.
Transaction |oddities |in |employee |crimes |that |forensic |accountants |look |for |- |CORRECT |
ANSWER✔✔-Time |(of |day, |week, |month, |year, |or |season).
Frequency |(too |many, |too |few).
