What Is the Primary Role of Internal Auditing in a Multinational

question 11

Multiple Choice

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

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Definitions:

Gross Earnings

The total amount of income earned by an individual or generated by a business before any deductions like taxes or expenses are applied.

Production In Excess

The situation when the quantity of goods produced exceeds the demand or expected sales volume.

Processing Line

A sequence of mechanical or chemical operations performed in order to prepare a product for market or further processing.

Hourly Wage

The rate of payment to a worker for each hour worked.