Forensic Accounting Exam 1
Questions with Correct Answers |
Latest Update 100% Pass
Maurice Peloubet - CORRECT ANSWER-Father of the term Forensic
Accounting in 1946
James McCleland - CORRECT ANSWER-Given credit for being the first Forensic
Accountant
Gordon Brown - CORRECT ANSWER-said "what the use of fingerprints was to
the 19th century, and DNA to the 20th century, forensic accounting will be to the
21st century
Authur Anderson - CORRECT ANSWER-the external auditor during the
WorldCom fraud
Frank Wilson - CORRECT ANSWER-found the smoking gun to help catch Al
Capone
,What are the 6 areas of litigation services that an AICPA committee suggested in
1986? - CORRECT ANSWER-Damages, Valuation, Antitrust Analyses, General
Consulting, Accounting, Analyses
Which is not one of the six areas of litigation services that an AICPA committee
suggested in 1986? - CORRECT ANSWER-Attestation
Wayne Bremser defined the modern role of forensic accounting to include four
elements. Which is not one of the four? - CORRECT ANSWER-Appellate
Support
Wayne Bremser defined the modern role of forensic accounting to include four
elements. What are they? - CORRECT ANSWER-Trail Support, Pretrial Support,
Expert Witnessing, Settlement Support
In North America, forensic accounting can be traced as far back as 1817 to a
______________ court decision? What was it? - CORRECT ANSWER-Canadian;
Meyer verse Sefton
Who was the auditor for Sunbeam, Waste Management, Baptist Foundation of
Arizona, and Global Crossing? - CORRECT ANSWER-Arthur Anderson
Who began to emphasize fraud detection in the FBI? - CORRECT ANSWER-J.
Edgar Hoover
The other name for the Committee of Sponsoring Organizations (COSO) is the
________________ Commission? - CORRECT ANSWER-Treadway
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,"What the use of _____________________ was to the 19th century and
_______________ was to the 20th century, forensic accounting will be to the 21st
century" - CORRECT ANSWER-fingerprints; DNA analysis
The three certain things in life: - CORRECT ANSWER-death, taxes, and fraud
Preemptory refers to __________________? - CORRECT ANSWER-the fact
that forensic accountants may take a preventive approach as a result of normal
operations
When comparing a forensic audit with a financial audit, which item would indicate
a financial audit? - CORRECT ANSWER-Sampling process
Satyam means ___________? - CORRECT ANSWER-truth
The two main provisions of the FCPA are ___________? - CORRECT
ANSWER-anti bribery provision (Department of Justice) and accounting
provision (SEC)
Sir Allen Standford's ponzi scheme stole more money than Bernie Madoff's? -
CORRECT ANSWER-False
The value examiner is published by: - CORRECT ANSWER-NACVA
PCAOB is one of the sponsors of the Committee of Sponsoring Organizations
(COSO)? - CORRECT ANSWER-False
, Who are the sponsors for the COSO? - CORRECT ANSWER-American
Accounting Association, American Institute of CPA, Finance Executives
International, Institute of MGMT Accounting, Institute of Internal Auditors
The external auditor for WorldCom when it went bankrupt was ______? -
CORRECT ANSWER-Arthur Anderson
The Panel on Audit Effectiveness was authorized by PCAOB? - CORRECT
ANSWER-False; POB
Which chairmen of the House Ways & Means Committee served time in prison
and why? - CORRECT ANSWER-Dan Rostenkowski bc he embezzled public
money in a cash-for-stamp scheme
Forensic Accounting is considered to be principles -based? - CORRECT
ANSWER-True
Sam Antar - CORRECT ANSWER-"My goal was to have the auditors leave 80%
of their male auditors as part of his distraction strategy...It's like David
Copperfiled; it's an illusion"
Forensic Accountant - CORRECT ANSWER-may take on fraud auditing
engagements and may be a fraud auditor, but he will also use other accounting,
consulting, and legal skills in broader engagements. In addition, they will need a
working knowledge of the legal system and excellent communication skills for
court
COPYRIGHT ALL RIGHTS RESERVED ©️ 2025
Questions with Correct Answers |
Latest Update 100% Pass
Maurice Peloubet - CORRECT ANSWER-Father of the term Forensic
Accounting in 1946
James McCleland - CORRECT ANSWER-Given credit for being the first Forensic
Accountant
Gordon Brown - CORRECT ANSWER-said "what the use of fingerprints was to
the 19th century, and DNA to the 20th century, forensic accounting will be to the
21st century
Authur Anderson - CORRECT ANSWER-the external auditor during the
WorldCom fraud
Frank Wilson - CORRECT ANSWER-found the smoking gun to help catch Al
Capone
,What are the 6 areas of litigation services that an AICPA committee suggested in
1986? - CORRECT ANSWER-Damages, Valuation, Antitrust Analyses, General
Consulting, Accounting, Analyses
Which is not one of the six areas of litigation services that an AICPA committee
suggested in 1986? - CORRECT ANSWER-Attestation
Wayne Bremser defined the modern role of forensic accounting to include four
elements. Which is not one of the four? - CORRECT ANSWER-Appellate
Support
Wayne Bremser defined the modern role of forensic accounting to include four
elements. What are they? - CORRECT ANSWER-Trail Support, Pretrial Support,
Expert Witnessing, Settlement Support
In North America, forensic accounting can be traced as far back as 1817 to a
______________ court decision? What was it? - CORRECT ANSWER-Canadian;
Meyer verse Sefton
Who was the auditor for Sunbeam, Waste Management, Baptist Foundation of
Arizona, and Global Crossing? - CORRECT ANSWER-Arthur Anderson
Who began to emphasize fraud detection in the FBI? - CORRECT ANSWER-J.
Edgar Hoover
The other name for the Committee of Sponsoring Organizations (COSO) is the
________________ Commission? - CORRECT ANSWER-Treadway
COPYRIGHT ALL RIGHTS RESERVED ©️ 2025
,"What the use of _____________________ was to the 19th century and
_______________ was to the 20th century, forensic accounting will be to the 21st
century" - CORRECT ANSWER-fingerprints; DNA analysis
The three certain things in life: - CORRECT ANSWER-death, taxes, and fraud
Preemptory refers to __________________? - CORRECT ANSWER-the fact
that forensic accountants may take a preventive approach as a result of normal
operations
When comparing a forensic audit with a financial audit, which item would indicate
a financial audit? - CORRECT ANSWER-Sampling process
Satyam means ___________? - CORRECT ANSWER-truth
The two main provisions of the FCPA are ___________? - CORRECT
ANSWER-anti bribery provision (Department of Justice) and accounting
provision (SEC)
Sir Allen Standford's ponzi scheme stole more money than Bernie Madoff's? -
CORRECT ANSWER-False
The value examiner is published by: - CORRECT ANSWER-NACVA
PCAOB is one of the sponsors of the Committee of Sponsoring Organizations
(COSO)? - CORRECT ANSWER-False
, Who are the sponsors for the COSO? - CORRECT ANSWER-American
Accounting Association, American Institute of CPA, Finance Executives
International, Institute of MGMT Accounting, Institute of Internal Auditors
The external auditor for WorldCom when it went bankrupt was ______? -
CORRECT ANSWER-Arthur Anderson
The Panel on Audit Effectiveness was authorized by PCAOB? - CORRECT
ANSWER-False; POB
Which chairmen of the House Ways & Means Committee served time in prison
and why? - CORRECT ANSWER-Dan Rostenkowski bc he embezzled public
money in a cash-for-stamp scheme
Forensic Accounting is considered to be principles -based? - CORRECT
ANSWER-True
Sam Antar - CORRECT ANSWER-"My goal was to have the auditors leave 80%
of their male auditors as part of his distraction strategy...It's like David
Copperfiled; it's an illusion"
Forensic Accountant - CORRECT ANSWER-may take on fraud auditing
engagements and may be a fraud auditor, but he will also use other accounting,
consulting, and legal skills in broader engagements. In addition, they will need a
working knowledge of the legal system and excellent communication skills for
court
COPYRIGHT ALL RIGHTS RESERVED ©️ 2025
