To perform an external audit, a company first must:
A) get an approval from the Securities and Exchange Commission
B) perform an internal audit
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 internal audits may provide some insights, they do not focus on external factors. Approval from the Securities and Exchange Commission is not required for an external audit, and hiring a consultant to develop a strategic plan is not part of an external audit process. Therefore, option C is the best choice.

To Perform an External Audit, a Company First Must