ACFE Professional Responsibilities - Question Set Latest 2024 Rated A+

ACFE Professional Responsibilities - Question Set Latest 2024 Rated A+ Which of the following statements is true regarding the disclosure of confidential client information? A fraud examiner can reveal confidential client information when responding to a legal court order. Craig and Donna each own 40 percent of the shares of Indiewealth and serve on its board of directors. George is also a shareholder, but he is not a member of the board of directors. Donna dies, and her son, Steven, inherits her shares of Indiewealth and replaces her on the board. Steven, however, is inattentive to Indiewealth's corporate affairs. During this time, Craig diverts corporate funds for personal use, and consequently, Indiewealth becomes insolvent. If George decides to sue Steven for violating his fiduciary duties, under what theory is he likely to file the suit? Violating the duty of care. Which of the following statements best differentiates a profession and a professional? A profession is an occupation that requires advanced education and training and a professional is a person who practices a profession. Which of the following statements is true of the principle of due professional care in the ACFE Standards of Professional Conduct? It requires members to adequately plan and supervise professional services. Which of the following is a primary driver of professional responsibility failure? . practitioners overestimating their respective skill sets As part of their responsibilities under the ACFE Code of Professional Ethics, in collecting evidence, fraud examiners must: a. Ensure that all necessary evidence is obtained. b. Preserve the integrity of relevant evidence. c. Obtain and document evidence such that the chain of custody is preserved. Under the ACFE Code of Professional Ethics, fraud examiners are absolutely prohibited from expressing opinions regarding the guilt or innocence of any party. True Which of the following is a fraud examiner permitted to express an opinion regarding? The effectiveness of an organization's internal controls. Which of the following statements is true of unconscious adversarial bias for testifying expert witnesses? It is extremely prevalent among law enforcement and government witnesses. Under the ACFE Code of Professional Ethics, evidence and conclusions are considered ___________ if knowledge of them would affect clients' decisions based on a fraud examiner's report. . Material ________ occurs when a testifying expert is specifically hired to represent the engaging attorney's theory. .Selection bias Which of the following statements best differentiates a principle and a rule as per AICPA's Code of Professional Conduct? A principle is a value-based internal force for behavioral action and a rule is an authoritative regulatory force for behavioral action. Which of the following is an obligation that relates to professional responsibility? to employ the degree of knowledge, skill, and judgment ordinarily possessed by members of the profession Fraud examiners generally are not entitled to claim ignorance of the law as a defense for illegal activity. True Materiality in a fraud examiner's report is determined by the perceptions and conclusions of the report's user. True ACFE, the world's largest antifraud organization, requires its members to comply with six fundamental rules as per ACFE's Code of Professional Standards. False The reason the ACFE Code of Professional Ethics restricts the types of opinions fraud examiners may express is to protect the fraud