Final answer:
Passing the CPA Exam does not automatically equip an individual with the competencies for any type of forensic accounting engagement, as this is a specialized field requiring additional skills and knowledge.
Step-by-step explanation:
The statement that if all members of a firm have passed the CPA Exam, they have the appropriate competencies for any type of forensic accounting engagement is false. Passing the CPA Exam demonstrates a foundational knowledge in various aspects of accounting and a level of competence in the general practice of public accounting. However, forensic accounting is a specialized area that generally requires additional training or experience in areas such as investigations, legal processes, and fraud examination. Firms must usually demonstrate competencies such as understanding legal concepts, providing litigation support, evaluating financial documents for signs of fraud, and possessing strong analytical and communication skills, which may go beyond the scope of the CPA curriculum.