CFE – Fraud Prevention and Deterrence — Question 64

Which of the following is TRUE regarding the reporting of the fraud risk assessment results?

Answer options

• A. The success of the fraud risk assessment process depends on how effectively the results are reported and what the organization then does with those results
• B. The fraud risk assessment report should contain a comprehensive list of the team’s suggested responses for each risk identified
• C. A fraud risk assessment report should reflect the assessment team's subjective opinions that were formed during the assessment engagement
• D. All of the above

Correct answer: C

Explanation

Option C is correct because a fraud risk assessment report should include the subjective opinions of the assessment team, reflecting their insights during the evaluation. Option A is misleading as it implies that the effectiveness of the process relies on reporting rather than the assessment itself, while Option B is incorrect because it suggests a need for a comprehensive response list, which is not a requirement for the report.