1. Who has the overall responsibility for the design and implementation of a fraud risk management program in a Company?

A. Internal Audit function

B. External auditors

C. A designated Committee of the Board

D. Management

2. Which of the following is the most common method by which occupational frauds are initially detected?

A. Management Review

B. Tip

C. Internal Audit

D. External audit

3. Advantages of Statistical sampling do not include

A. Sample results are objective and defensible

B. Conclusions may be drawn regarding an entire population of data

C. Exact information can be obtained about a population of items based on just a sample

D. Audit coverage of multiple locations is often more convenient