What reason can be given for the importance of internal auditing in multinational corporations?

Question

Quizplus · Accepted Answer

With the increasing complexity and risks associated with operating in multiple countries, there is a growing demand for risk management skills possessed by internal auditors. Internal audit departments are essential in providing independent assurance to management that internal control systems are functioning effectively to mitigate risks and enhance the organization's governance, risk management, and control processes. This is particularly important for multinational corporations that face a variety of risks, including legal, operational, financial, and reputational risks. Internal auditors are in a unique position to provide insights into these risks, helping management to identify and prioritize their risk response strategies. Therefore, the importance of internal auditing in multinational corporations cannot be overemphasized.

What Reason Can Be Given for the Importance of Internal