To perform an external audit,a company first must
A)perform an internal audit.
B)get an approval from the Securities and Exchange Commission.
C)gather competitive intelligence and information about external trends.
D)hire a consultant to develop a comprehensive strategic plan.
E)all of these

Question

Quizplus · Accepted Answer

To perform an external audit, a company must gather competitive intelligence and information about external trends. While performing an internal audit is a recommended practice, it is not a requirement for conducting an external audit. Getting approval from the Securities and Exchange Commission is only necessary for public companies, not for all companies. Hiring a consultant to develop a comprehensive strategic plan may be helpful, but it is not a requirement for conducting an external audit. Therefore, option C is the best choice.

To Perform an External Audit,a Company First Must