Which of the following does NOT help prevent cash larceny schemes?

Prepare for the ACFE Certified Fraud Examiner (CFE) Financial Transactions and Fraud Schemes Test with our comprehensive quiz. Engage with flashcards, multiple choice questions, hints, and explanations. Ace your exam!

The choice indicating that having all employees use the same cash register does not help prevent cash larceny schemes is accurate because it can create opportunities for employees to engage in fraudulent activities without oversight. When multiple employees share the same cash register, it becomes difficult to track individual transactions accurately. This lack of accountability can facilitate dishonest practices, such as skimming cash or manipulating sales records, since the actions of one employee can easily be attributed to another.

In contrast, strategies such as sending out company-wide communications about cash counts promote transparency and accountability within the organization, allowing for better monitoring of cash flows. Assigning employee duties during vacations ensures a system of checks and balances, as it allows for different employees to handle cash functions, thereby reducing the chances of collusion or fraud going undetected. Finally, separating duties for bank deposits and reconciliations is a widely recognized internal control that helps to prevent fraud by ensuring that no single individual has control over all parts of a cash transaction, making it harder to perpetrate and conceal theft.

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