Question 1

Which of the following is included in the G20/OECD Principles of Corporate Governance?

Options :

A :

A requirement for corporations to establish a legal, regulatory, and institutional framework to support good governance practices

B : A call to support the equal treatment of all members of an organization's governing body

C : Guidance regarding appropriate board structures, responsibilities, and procedures

D :

An examination of the importance of effectively designed and implemented internal control mechanisms within an organization

Answer: C

Question 2

According to the 2020 Report to the Nations, which of the following is the MOST COMMON method by which frauds are detected?

Options :

A : Internal audit

B : Confession

C : Tips

D : External audit

Answer: C

Question 3

Consistently punishing perpetrators can be an effective fraud prevention mechanism

Options :

A : True

B : False

Answer: A

Question 4

The Committee of Sponsoring Organizations of the Treadway Commission (COSO) defines____________ as

"a process, effected by an entity's board of directors, management, andother personnel, designed to provide

reasonable assurance regarding the achievement of objectives relating to operations, reporting, and

compliance."

Options :

A : Corporate compliance

B : Fraud risk management

C : Risk assessment

D : Internal control

Answer: D

Question 5

Employee anti-fraud education should:

Options :

A : Include descriptions of the procedures that management uses to detect fraud.

B : Include examples of prior employee misconduct and how those situations were handled.

C : Be restricted to formal educational mechanisms to reinforce the importance of the message.

D : Be presented by organizational executives or anti-fraud professionals only.

Answer: B