Absolute Free CFE-Fraud-Prevention-and-Deterrence Exam Practice for Comprehensive Preparation 

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

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

The auditors should assume that all audit evidence collected previously is unreliable and withdraw from the audit engagement

The auditors should assess the need to adjust the nature, timing, and extent of remaining audit procedures based on this evidence.

The auditors can ignore the misstatement because the omitted amount is less than the quantitative materiality threshold and therefore immaterial to the audit.

The auditors do not need to be concerned with this evidence, as asset misappropriation schemes are not considered relevant or material for external audit purposes.

The internal audit function should discuss how and when to report fraud-related issues with senior management and the board of directors before such issues arise.

The internal audit function is permitted, but not required, to periodically report about the organization's fraud risks to senior management and the board of directors.

The internal audit function should not disclose the results of its fraud audits to senior management or the board of directors in order to maintain independence

The internal audit function is not permitted to communicate with the board of directors about fraud, as that is the responsibility of external auditors.