All of the following are true except?
A) The CFO is the most likely executive to orchestrate and commit fraud.
B) Management fraud is usually committed on behalf of an organization rather than against it.
C) The four areas of financial statement fraud that need to be examined in detecting financial statement fraud are management and directors, relationships with others, the organization and financial results and operating characteristics.
D) Financial statements play an important role in keeping U.S. capital markets efficient.

Question

Quizplus · Accepted Answer

The CEO is most likely to orchestrate and commit fraud because financial statement frauds are elaborate and often require the participation of many executives. The CEO is most likely to have the clout to pull this off. The other statements are true - management fraud is usually committed on behalf of the organization and the financial statements play a vital role in maintaining the efficiency of the US capital markets.

All of the Following Are True Except