Test Bank for Forensic and Investigative Accounting, 9th Edition by D Larry Crumbley - Chapters 1-0, 9780808053224 Rationals Included 2

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Chapterf2
ForensicfAccountingfEducation,fInstitutions,fandfSpecialties

TRUE-FALSEfQUESTIONS—CHAPTERf2

1. Thefforensicfaccountingffieldfisfbroaderfthanffraudfauditing.

2. Forensicf accountantf qualificationsf workf togetherf tof supportf eachf otherf likef af four-
flayered fweddingfcake.




3. Af forensicf accountantf canf normallyf assumef thatf thef booksf andf recordsf aref truef andfcor
rect.

4. Forensicfaccountingfcoursesfinfuniversitiesfandfcollegesfhavefbeenfgrowingfrapidlyfinfnum
bersfsincef1983.

5. Knowledgefoffbothfstatuteflawfandfcaseflawfmayfbefrelevantftofthefgoalsforfobjectivesfoffaffo
rensicfaccountant.

6. Criminologyfisfonefareafoffthefforensicfaccountant'sfknowledgefbase.

7. Courtroomfproceduresf arefonefareafoffthefnecessaryfforensicf accountant'sfknowledgef base
.

8. Afpsychologyfcoursefwouldfnotfbefhelpfulfforfafforensicfaccountant.

9. Bothf professorsf andf practitionersf rankedf "Fundamentalsf off Fraud"f numberf 1f withf resp
ectftofthefimportancefoffcontentfinfafforensicfaccountingfcourse.

10. Professorsfrankedf"EffectivefReportfWriting"fnumberf2fwithfrespectftofthefimportancefoffc
ontentfinfafforensicfaccountingfcourse.

11. ThefAffordablefCarefActfhasfbeenfcalledfthefbiggestfinsurancefscamfinfhistory.

12. ThefCRFACfcertificationfdoesfnotfhavefafCodefoffEthics.

13. Onf af Kesslerf survey,f moref thanf 85f percentf off employeesf admittedf tof stealingf officefsup
pliesfandffalsifyingfexpensefreports.

14. OnfafKesslerfsurvey,fmorefthanf90fpercentfoffthefemployeesfsaidftheyfliedfonftheirfjobfapplic
ationsfthatfaskedfwhetherftheyfstoleffromfafpreviousfemployer.

15. CRFACf isf anf advancedf credentialf thatf recognizesf thef holderf withf anf expertisef inf valu
ationfandfdamagefanalysis.

16. Thef Certifiedf Fraudf Examinerf (CFE)f designationf isf providedf byf thef Nationalf Ass
ociationfoffCertifiedfValuationfAnalysts.

17. OnefdoesfnotfneedftofbefafCPAftofbecomefafMAFF.

18. Data-
drivenfforensicftechniquesfwillfalwaysfdetectffraudfschemes,fincludingfbriberyfandfkickbac
ks.

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19. CFEsfgatherfevidence,ftakefstatements,fwritefreports,fandfassistfinfinvestigatingffraud.

20. AfCFEfshouldfnotfexpressfanfopinionfregardingfthefguiltforfinnocencefoffanyfpersonforfparty
.

21. ThefFASNAfisfafmember-
drivenfnetworkfoffCPAffirmsfwhofadhereftofhighfstandardsfoffqualityfandfservices.

22. Inf orderf tof obtainf thef FASNAf certificate,f af personf mustf passf af 500-
questionf examination.

23. InforderftofobtainfafCVAfcertificate,fafpersonfmustfholdfafvalidfCPAfcertificate.

24. AccordingftofafAICPAfwebsitefarticle,ftheftopfessentialftraitfoffafforensicfaccountantfisftofbef
analytical..

25. Aboutf6%foffworldftradefcompaniesfcounterfeitfproducts.

26. Thef Institutef off Businessf Appraisersf (IBA)f isf thef oldestf not-for-
profitf organizationfdevotedfsolelyftofthefappraisalfoffcloselyfheldfbusinesses.

27. Afkick-backfschemefcanfnormallyfbefcaughtfbyfafdata-drivenfapproach.

28. Fraudfisfmuchflikefanficeberg:fmanyfoffthefbehavioralffactorsflurkfonftopfoffthefwaterf readyf
tofsinkfafcorporation.

29. Afbriberyfschemefcanfbestfbefcaughtfbyfbehavioralffactors.

30. Justflikeftermites,ffraudfcanfdestroyfanforganization.

31. Recessionsfoftenfincreaseffraudfandfabuse.

32. Thef AffordablefCarefActfshouldfdecreasefthefneedfforfforensicfaccountants.

33. AICPAf researchf indicatesf thatf CPAsf representf moref thanf 90f percentf off forensicfac
countingfexpertsfhiredfoverfaftwofyearfperiod.

34. Accordingf tof thef FBI'sf definitionf off fraud,f theref shouldf bef anf applicationf orf threatf offphy
sicalfforceforfviolence.

35. OnefneedfnotfbefafCPAftofobtainfthefCertifiedfinfFinancialfForensicsf(CFF).

36. Inf1953,fMaxfLouriefencouragedfuniversitiesfandfcollegesftoflaunchfforensicfaccountingfco
urses.

37. Accountingffirmsfchargefaboutfone-
thirdfmorefforfforensicfaccountingfworkfthanfauditfwork.

38. AnfemployeefatfthefNewfZealandfmintfstolefmorefthanf$100,000foffcoinsfandfbillsfbyf carryi
ngfthemfoutfinfhisflunchboxfandfboots.

39. EYfreceivedfmoreffromfHealthSouthffromfaudit-relatedffeesfratherfthanfnon-auditffees.



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40. Lookingfatftheflifestylesfoffanfindividualfisfcalledfbehavioralfforensicfaccounting.

41. Anfarbitratorfisfconsideredftofbefaftrierfofftheffacts.

42. Afregulatoryfbodyfisfaftrierfofftheffacts.

43. ThefCertifiedfinfFinancialfForensicsf(CFF)fisfprovidedfbyfthefNACVA.

44. TofobtainfthefCFFfcredentialfonefmustfbefafCPA.

45. TofobtainfthefCFEfcredentialfonefmustfbefafCPA.

46. Currently,fanfexaminationfisfnotfafrequirementftofbecomefafCFF.

47. Offthefessentialftraitsfoffafforensicfaccountant,fthefAICPAfwebfsitefranksf"skepticism"f atfth
eftopfofftheflists.

48. Thef Bureauf off Laborf Statisticsf predictsf thatf thef growthf off thef numberf off forensicfacco
untantsfwillfbefstagnantfthroughf2024.

49. Infgeneral,fafCPAfcertificatefandfthreefyearsfoffexperiencefisfrequiredftofbefhiredfbyfthefFBIfa
sfafforensicfaccountant.

50. AfPwCf2018fsurveyffoundfthatfthefmainfperpetratorsfofffraudfwerefexternalfactorsfinfthefU.S.

51. ThefU.S.fwasfnearftheftopfofftheflistfoffcyberfcrimesfinfafKrollfGlobalfRiskfMapf(2017f–
f2018).




52. ScottfMcHonefisfthefpresidentfoffthefAmericanfBoardfoffForensicfAccounting.

53. ThefPCAOBfoverseesfthefauditfoffprivatefcompanies.

54. AccountingffirmsfthatfauditfpublicfcommpaniesfmustfregisterfwithfthefPCAOB.

55. Af publiclyf tradedf companyf sellsf theirf stockf onf af publicf stockf exchangef tof thef generalfpub
lic.

56. TofqualifyftofobtainfthefCertifiedfinfFinancialfForensicsf(CFF)fcredentialfthefpersonfmustfbef
afCPA.

57. TofobtainfthefMAFFfdesignation,fthefpersonfmustfbefafCPA.

58. ThefAssociationfoffCertifiedfFraudfSpecialistsfisfhadquarteredfinfQuebec,fCanada.

59. ThefCFEfgroupfhasfmorefmembersfthanfthefCFFfgroup.

60. AfpersonfcanfbefbothfafCFFfandfafCRFAC.

61. ThefAmericanfBoardfoffForensicfAccountingfwasftheffirstfforensicfaccountingfboardfandfcre
dentialingfbodyfestablishedfinfthefU.S.

62. OnefmustfbefafCPAftofobtainfthefCVAfcredential.



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