1. Foreign subsidiaries have a better understanding of financial performance with

I..financial statements in the home headquarters currency

II..financial statement in the local currency

Multiple Choice

a.I

b.II

c. either I or II

d. I and II

2. What is the role of internal auditing?

Multiple Choice

a. To substitute for the external auditor whenever possible

b. To assist the audit committee in negotiations with the external auditor

c. To provide assurance and consulting services to improve an organization's operations

d. To mediate disagreements between the external auditor and corporate management