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ACFE Exam CFE-Fraud-Prevention-and-Deterrence Topic 3 Question 88 Discussion

Actual exam question for ACFE's CFE-Fraud-Prevention-and-Deterrence exam
Question #: 88
Topic #: 3
[All CFE-Fraud-Prevention-and-Deterrence Questions]

Which of the following is TRUE regarding corporate governance?

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Suggested Answer: A

by Tanja at Jul 08, 2024, 08:33 PM

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Melissia
3 months ago
I'd go with D. It's a textbook definition of corporate governance, and the most comprehensive answer choice provided.
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Mauricio
2 months ago
Claudio: Definitely, it's important to have a clear structure for rights and responsibilities.
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Claudio
2 months ago
Yeah, D seems to cover all aspects of corporate governance.
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Bo
3 months ago
I think D is the best choice too.
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Theola
4 months ago
Ha! Option C is just begging for a joke about nepotism in family-owned businesses. But in all seriousness, it's not the most important aspect of governance.
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Jeannetta
2 months ago
D) An entity's corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization
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Reuben
2 months ago
C) Effective corporate governance practices are most necessary in an organization in which the owners are also the individuals responsible for setting the corporate strategy.
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Kaycee
2 months ago
B) Corporate governance's primary purpose is to ensure the accuracy of the organization's financial reports
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Pamella
3 months ago
A) Fraud risk management is considered to be the foundation of effective corporate governance
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Aretha
4 months ago
Option A seems too narrow. Fraud risk management is certainly important, but it's not the entire foundation of corporate governance.
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Kimberlie
3 months ago
C) Effective corporate governance practices are most necessary in an organization in which the owners are also the individuals responsible for setting the corporate strategy.
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Kallie
3 months ago
B) Corporate governance's primary purpose is to ensure the accuracy of the organization's financial reports
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Sharmaine
3 months ago
A) Fraud risk management is considered to be the foundation of effective corporate governance
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Carli
3 months ago
D) An entity's corporate governance structure specifies the distribution of rights and responsibilities among the different participants in the organization
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Katie
3 months ago
C) Effective corporate governance practices are most necessary in an organization in which the owners are also the individuals responsible for setting the corporate strategy.
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Eun
3 months ago
A) Fraud risk management is considered to be the foundation of effective corporate governance
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Jovita
4 months ago
I disagree with option B. Corporate governance is not solely about ensuring accurate financial reporting. It's a much broader concept.
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Devorah
4 months ago
I think option D is the correct answer. Corporate governance structures define the roles and responsibilities of different stakeholders in an organization.
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Lino
3 months ago
Yes, that's right. It's important for defining accountability and decision-making processes.
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Dolores
3 months ago
I agree, option D is correct. It specifies the distribution of rights and responsibilities.
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Billye
4 months ago
You make a good point, Annett. Option C) does make sense as well. It's important to have a clear distribution of rights and responsibilities, as mentioned in option D).
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Annett
4 months ago
But don't you think that effective corporate governance practices are crucial for organizations with owners setting the corporate strategy? That's what option C) says.
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Billye
4 months ago
I disagree, I believe the answer is B) Corporate governance's primary purpose is to ensure the accuracy of the organization's financial reports.
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Annett
5 months ago
I think the answer is A) Fraud risk management is considered to be the foundation of effective corporate governance.
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