Question

A company headquartered in the United States has operations in 27 countries. The company purchased a subsidiary to expand operations into another country last year. According to COSO, what provides the strongest mechanism for monitoring control in this new foreign venture?

Answer 1

Answer: An internal audit is being performed.

Explanation:

Internal Audit is a department or entity that provides structures, corporate organizations, and procedures for persons inside an organization with unbiased, objective assessments.

According to the Chartered Institute of Internal Auditors, the role of internal audit is to provide objective assurance that an organization's risk management, governance and internal control processes are operating effectively.