CCEP Study Set - Self with complete solution 2024

CCEP Study Set - SelfA CFO discovers the CEO is using company funds for personal expenses. The CFO buried this information in the company's financial reports. The compliance and Ethics Professional (CEP) learns of the situation through the company's hotline. Which of the following should be the CEP's FIRST response? A. Retain outside counsel B. Recommend suspension of the CFO C. Investigate and verify the allegation D. Disclose the issue and terminate the CEO. - correct answer C. Investigate and verify the allegation. Which of the following is the MOST effective way a compliance and ethics professional can evaluate compliance and ethics audit findings? A. Track the number of sexual harassment allegations received by HR that are substantiated B. Conduct trend analysis on identified risk areas and benchmark results against industry standards C. Review the number of hotline calls received and provide the information to the CFO D. Investigate only those allegations received from mid-level management - correct answer B. Conduct trend analysis on identified risk areas and benchmark results against industry standards Key word in the question is Evaluate. A US-based retail company has 250 stores in 30 states. Past compliance efforts have included a silo-based approach with minimal oversight and the CEO acting as the Compliance and Ethics Officer. One person in each state posted compliance-related information sent from corporate, but there were no actual educational sessions. Policies and procedures were developed by corporate and reviewed five years ago. The organization has decided that a more dedicated approach is needed and hires a Compliance and Ethics Officer. Which of the following actions should the new Compliance Officer take FIRST? A. Conduct a compliance and ethics risk assessment