Question 1

The fraud examiner or forensic accountant should understand that the opposing lawyer will NOT:

Accepted Answer

A)  Learn your field 
B)  Agree with your conclusions 
C)  Know your report 
D)  Know your resume 
A)  Learn your field 
B)  Agree with your conclusions 
C)  Know your report 
D)  Know your resume B

Question 2

Remediation is characterized as the steps necessary to "clean up the mess" after a fraud or financial crime has been discovered and investigated, and the results of the investigation have been reported.

Accepted Answer

A) True 
 B)False  True

Question 3

What is a deposition and why is it used?

Accepted Answer

The function of a deposition is to:
•Gather testimonial and documentary evidence from witnesses
•Limit the scope of what witnesses may say when the actual trial occurs
•Test or confirm theories and hypotheses
•Develop a record under oath and thereby "freeze" a witness's testimony
•Evaluate the credibility and persuasiveness of the witness as well as their work, conclusions, and opinions
•Move the case toward settlement or trial
•Compare the deposition testimony to prior statements and statements made by other witnesses
•Test the expert witness's report

Question 4

What are the types of losses available for recovery?

Accepted Answer

The types of losses available for recove

Question 5

At a minimum, corporate governance should address this issue:

Accepted Answer

A)  Creating and maintaining a culture of honesty and high ethics 
B)  Evaluating fraud risks and implementing programs and controls to mitigate them 
C)  Developing an appropriate anti-fraud oversight process 
D)  All of the above 
A)  Creating and maintaining a culture of honesty and high ethics 
B)  Evaluating fraud risks and implementing programs and controls to mitigate them 
C)  Developing an appropriate anti-fraud oversight process 
D)  All of the above

Question 6

The control environment also excludes:

Accepted Answer

A)  Integrity and ethical values 
B)  A passive board of directors and audit committee 
C)  Periodic assessment of the organizational structure 
D)  Human resource policies and practices that facilitate a good control environment 
A)  Integrity and ethical values 
B)  A passive board of directors and audit committee 
C)  Periodic assessment of the organizational structure 
D)  Human resource policies and practices that facilitate a good control environment

Question 7

Corporate governance is the set of processes, customs, and policies that affect the way an organization is directed.

Accepted Answer

A) True 
 B)False

Question 8

What is meant by corporate governance and why is it important?

Accepted Answer

Corporate governance is the set of proce

Question 9

Once illegal money has been combined with money from legitimate sources, one can no longer follow the money; the money can't be traced.

Accepted Answer

A) True 
 B)False

Question 10

How does the legal system differentiate between "following" versus "tracing' the money?

Accepted Answer

"Following the money" and "tracing the m

Question 11

What is the difference between fact witnesses and expert witnesses?

Accepted Answer

Most foundation testimony in a case is p

Question 12

The Frye Rule makes an opinion inadmissible even if that opinion has general acceptance in the scientific community.

Accepted Answer

A) True 
 B)False

Question 13

Forensic accounting is the use of accounting for possible courtroom purposes.

Accepted Answer

A) True 
 B)False

Question 14

This is an unusual paragraph. I'm curious how quickly you can find out what is so unusual about it. It looks so plain you would think nothing was wrong with it. In fact, nothing is wrong with it! It is unusual though. Study it, and think about it, but you still may not find anything odd. But if you work at it a bit, you might find out. Try to do so without any coaching!
What is unusual about this paragraph?

Accepted Answer

The entire

Question 15

What two points must an injured party prove to recover money in a civil lawsuit?

Accepted Answer

Generally, in order to be in a position

Question 16

In contrast to a fact or lay witness, an expert witness is one who, by virtue of education, profession, publication, or experience, is believed to have special knowledge of his or her subject beyond that of the average person, sufficient that others may officially and legally rely upon the opinion.

Accepted Answer

A) True 
 B)False

Question 17

A deposition is a post-trial process by which the parties to a civil litigation are allowed to examine the other side's fact witnesses and expert witnesses.

Accepted Answer

A) True 
 B)False

Question 18

In what types of cases may a forensic accountant serve as an expert witness?

Accepted Answer

Although consultants are not expected to

Question 19

Plaintiffs and victims have a number of possible legal mechanisms available to recover assets either through the civil or criminal justice system with the exception of:

Accepted Answer

A)  Expropriation 
B)  Freezing orders 
C)  Judgments 
D)  Insurance and Bonds 
A)  Expropriation 
B)  Freezing orders 
C)  Judgments 
D)  Insurance and Bonds

Question 20

Presenting a positive appearance can bolster credibility. Aspects of a positive appearance EXCLUDE:

Accepted Answer

A)  Body language, including attentiveness and sitting up straight 
B)  Eye contact 
C)  Business attire 
D)  Abrupt or argumentative responses 
A)  Body language, including attentiveness and sitting up straight 
B)  Eye contact 
C)  Business attire 
D)  Abrupt or argumentative responses

The fraud examiner or forensic accountant should understand that the opposing lawyer will NOT:

Remediation is characterized as the steps necessary to "clean up the mess" after a fraud or financial crime has been discovered and investigated, and the results of the investigation have been reported.

What is a deposition and why is it used?

What are the types of losses available for recovery?

At a minimum, corporate governance should address this issue:

The control environment also excludes:

Corporate governance is the set of processes, customs, and policies that affect the way an organization is directed.

What is meant by corporate governance and why is it important?

Once illegal money has been combined with money from legitimate sources, one can no longer follow the money; the money can't be traced.

How does the legal system differentiate between "following" versus "tracing' the money?

What is the difference between fact witnesses and expert witnesses?

The Frye Rule makes an opinion inadmissible even if that opinion has general acceptance in the scientific community.

Forensic accounting is the use of accounting for possible courtroom purposes.

What two points must an injured party prove to recover money in a civil lawsuit?

In contrast to a fact or lay witness, an expert witness is one who, by virtue of education, profession, publication, or experience, is believed to have special knowledge of his or her subject beyond that of the average person, sufficient that others may officially and legally rely upon the opinion.

A deposition is a post-trial process by which the parties to a civil litigation are allowed to examine the other side's fact witnesses and expert witnesses.

In what types of cases may a forensic accountant serve as an expert witness?

Plaintiffs and victims have a number of possible legal mechanisms available to recover assets either through the civil or criminal justice system with the exception of:

Presenting a positive appearance can bolster credibility. Aspects of a positive appearance EXCLUDE:

Core Foundation Related to Fraud Examination and Financial Forensics

Careers in Fraud Examination and Financial Forensics

Who Commits Fraud and Why: Criminology and Ethics

Complex Frauds and Financial Crimes

Cybercrime: Computer and Internet Fraud

Legal, Regulatory, and Professional Environment

Fraud Detection: Red Flags and Targeted Risk Assessment

Detection and Investigations

Effective Interviewing and Interrogation

Using Information Technology for Fraud Examination and Financial Forensics

Cash Receipt Schemes and Other Asset Misappropriations

Cash Disbursement Schemes

Corruption and the Human Factor

Financial Statement Fraud

Consulting, Litigation Support, and Expert Witnesses: Damages, Valuations, and Other Engagements

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Exam 16: Remediation and Litigation Advisory Services

The fraud examiner or forensic accountant should understand that the opposing lawyer will NOT:

Remediation is characterized as the steps necessary to "clean up the mess" after a fraud or financial crime has been discovered and investigated, and the results of the investigation have been reported.

What is a deposition and why is it used?

What are the types of losses available for recovery?

At a minimum, corporate governance should address this issue:

The control environment also excludes:

Corporate governance is the set of processes, customs, and policies that affect the way an organization is directed.

What is meant by corporate governance and why is it important?

Once illegal money has been combined with money from legitimate sources, one can no longer follow the money; the money can't be traced.

How does the legal system differentiate between "following" versus "tracing' the money?

What is the difference between fact witnesses and expert witnesses?

The Frye Rule makes an opinion inadmissible even if that opinion has general acceptance in the scientific community.

Forensic accounting is the use of accounting for possible courtroom purposes.

What two points must an injured party prove to recover money in a civil lawsuit?

In contrast to a fact or lay witness, an expert witness is one who, by virtue of education, profession, publication, or experience, is believed to have special knowledge of his or her subject beyond that of the average person, sufficient that others may officially and legally rely upon the opinion.

A deposition is a post-trial process by which the parties to a civil litigation are allowed to examine the other side's fact witnesses and expert witnesses.

In what types of cases may a forensic accountant serve as an expert witness?

Plaintiffs and victims have a number of possible legal mechanisms available to recover assets either through the civil or criminal justice system with the exception of:

Presenting a positive appearance can bolster credibility. Aspects of a positive appearance EXCLUDE:

Core Foundation Related to Fraud Examination and Financial Forensics

Careers in Fraud Examination and Financial Forensics

Who Commits Fraud and Why: Criminology and Ethics

Complex Frauds and Financial Crimes

Cybercrime: Computer and Internet Fraud

Legal, Regulatory, and Professional Environment

Fraud Detection: Red Flags and Targeted Risk Assessment

Detection and Investigations

Effective Interviewing and Interrogation

Using Information Technology for Fraud Examination and Financial Forensics

Cash Receipt Schemes and Other Asset Misappropriations

Cash Disbursement Schemes

Corruption and the Human Factor

Financial Statement Fraud

Consulting, Litigation Support, and Expert Witnesses: Damages, Valuations, and Other Engagements

Filters