What Is the Primary Role of Internal Auditing in Multinational

question 6

Multiple Choice

What is the primary role of internal auditing in multinational corporations?

• A)preparing the annual report to corporate shareholders
• B)selecting independent members for the board of directors
• C)helping external auditors with the financial statement audit
• D)monitoring risks and assessing their effect on the company

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Definitions:

Owner's Equity

The total assets of a business minus its total liabilities; represents the ownership interest of the shareholders or owner(s).

Required Assets

Assets that are necessary for a business or individual to achieve its goals, including tangible and intangible resources.

Long-Term Assets

Assets that will not be converted into cash within one year.

Patents

Legal documents granted by governments giving inventors exclusive rights to their inventions, preventing others from making, using, or selling the invention without permission for a certain period.