It Is Increasingly Important for Companies to Ask Their Third-Party

question 43

True/False

It is increasingly important for companies to ask their third-party service provider of services, including payroll and other types of transaction processing, for attestation reports covering a review of the effectiveness of internal controls in place at the third-party service provider.

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Definitions:

CIA Operative

An agent or individual working for the Central Intelligence Agency, performing intelligence gathering or covert operations.

Globalization

Term that became prominent in the 1990s to describe the rapid acceleration of international flows of commerce, financial resources, labor, and cultural products.

Immigration

The action of coming to live permanently in a foreign country, often for personal, economic, or safety reasons.

Gulf Oil Spill

Environmental disaster that occurred in 2010 after an explosion on the Deepwater Horizon oil rig. Hundreds of millions of gallons of oil were spilled into the Gulf of Mexico, resulting in one of the largest environmental calamities in human history.