Evaluation for any internship experience, whether in the form of a complete internship "audit" or an appraisal of individual components of the experience, is a three-stage task for the academic supervisor: (1) finding out what happened and comparing actual results with predetermined goals; (2) finding out what specific factors in the internship accounted for the results; and (3) using the information gained in planning the next internship experience by improving on unsatisfactory performance and capitalizing on successes. The student, academic supervisor, and on-the-job supervisor should all have input in the evaluation process, which has the central aim of improving the content and overall quality of the learning experience. Evaluation criteria should be precise and clearly communicated as program objectives. Although evaluation is arduous, time-consuming, and sometimes frustrating, it is the only sound diagnostic tool for monitoring the academic soundness of internship experiences within multinational and foreign business programs. (MSE)