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Exam CFE - Investigation topic 1 question 122 discussion

Actual exam question from ACFE's CFE - Investigation
Question #: 122
Topic #: 1
[All CFE - Investigation Questions]

Management at Oak Company has asked Arthur, an internal auditor, to implement a data analysis program to search for warning signs of potential fraud within the company. Which of the following steps should Arthur conduct first to MOST EFFECTIVELY use data analysis techniques for such an initiative?

  • A. Cleanse and normalize the data.
  • B. Build a profile of potential frauds.
  • C. Obtain the data.
  • D. Analyze the data.
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Suggested Answer: C 🗳️
by vynyfulu at April 5, 2025, 12:54 p.m.

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_denw
1 week ago
Selected Answer: B
The first step in effectively using data analysis to detect fraud is to build a profile of potential frauds—identifying the types of fraud risks the company faces and the red flags or patterns associated with them. This guides what data to collect, how to prepare it, and what to analyze.
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