In the context of auditing, please provide a comprehensive analysis of the factors and considerations that auditors must take into account when evaluating the internal control environment of a large, multinational corporation operating in a highly regulated industry. Your analysis should cover multiple aspects, including but not limited to the following:

Regulatory Environment and Compliance: Describe how the auditors should assess the corporation's compliance with industry-specific regulations and how changes in regulatory requirements may impact the audit approach.

Risk Assessment: Explain the steps auditors should follow to identify and assess risks related to the corporation's internal controls, including those associated with the industry's inherent risks.

Materiality and Significance: Discuss the determination of materiality thresholds in the context of a multinational corporation, considering the diverse nature of its operations and locations.

Control Objectives and Strategies: Analyze how auditors establish control objectives and strategies tailored to the corporation's industry, considering factors like supply chain complexities, market volatility, and geopolitical risks.

Use of Information Technology: Evaluate the role of IT systems in the corporation's internal controls and how auditors should address the specific challenges posed by a global IT infrastructure.

Fraud Risk Assessment: Describe the steps auditors should take to assess and respond to fraud risks within the corporation, taking into account industry-specific fraud schemes.

Cross-Border Transactions: Discuss the complexities of auditing a multinational corporation's cross-border transactions, including transfer pricing, foreign currency risk, and tax implications.

Data Analytics and Continuous Monitoring: Explain the role of data analytics and continuous monitoring in the audit process, with a focus on how they can be applied in an industry where real-time data is critical.

Third-Party Relationships: Analyze how auditors should consider the risks associated with third-party relationships, such as suppliers, distributors, and contractors, within the industry.

Sustainability and ESG Reporting: Discuss the increasing importance of Environmental, Social, and Governance (ESG) reporting in the industry and how auditors should address the assurance of sustainability-related disclosures.

Audit Reporting and Communication: Explain the key elements auditors should include in their reports for stakeholders, considering the global and industry-specific factors that may influence the audit findings and opinions.

Emerging Technologies: Evaluate the impact of emerging technologies such as blockchain, AI, and cybersecurity on the auditing process in the industry, and how auditors should adapt to these changes.

Please provide a comprehensive analysis of these aspects, taking into account the nuances and complexities of auditing a large, multinational corporation in a highly regulated industry. Additionally, consider the evolving nature of both the industry and the auditing profession in your response.