Certified Fraud Examiner Exam Practice Test
Certified Fraud Examiner Fraud Risk Assessment Questions and Answers
In the context of a fraud risk assessment, which of the following best defines residual fraud risk?
Select your answer
A
The risk of fraud that exists before any controls or mitigation strategies are implemented.
B
The risk that a fraud scheme will go undetected by the internal audit department.
C
The risk of fraud that remains after management has implemented internal controls to mitigate identified threats.
D
The total financial impact a company would suffer if a specific fraud scheme were to occur.
Hint
