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Exam CFE - Financial Transactions and Fraud Schemes All Questions

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Exam CFE - Financial Transactions and Fraud Schemes topic 1 question 16 discussion

Actual exam question from ACFE's CFE - Financial Transactions and Fraud Schemes
Question #: 16
Topic #: 1
[All CFE - Financial Transactions and Fraud Schemes Questions]

Which of the following measures is MOST LIKELY to prevent cash larceny schemes from occurring?

  • A. Having all employees use the same cash register
  • B. Requiring the accounts receivable clerk to deposit cash receipts at the bank and perform bank reconciliations
  • C. Restricting other employees from performing the duties of an employee on vacation
  • D. Announcing that the company performs surprise cash counts
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Suggested Answer: D 🗳️
by AML_1234 at Dec. 11, 2024, 7:50 p.m.

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_denw
4 weeks ago
Selected Answer: D
Surprise cash counts are a strong preventive control against cash larceny because they increase the perceived risk of detection. Employees are less likely to steal if they know random checks might catch them.
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