What is the primary role of internal auditing in a multinational corporation?
A) To assist the external auditors in completing the financial statement audit in a timely fashion
B) To make sure that employees comply with local customs and traditions
C) To ensure that corporate policies and procedures are being followed and to assess operating efficiency
D) To prepare the consolidated financial statement of the corporation in compliance with international accounting standards

Question

Quizplus · Accepted Answer

The primary role of internal auditing in a multinational corporation is to ensure that corporate policies and procedures are being followed and to assess operating efficiency. While they may assist external auditors in completing the financial statement audit, their main focus is on internal controls and risk management. Internal auditors are not responsible for ensuring employees comply with local customs and traditions, and they do not prepare the consolidated financial statement of the corporation.

What Is the Primary Role of Internal Auditing in a Multinational