To perform an external audit, a company first must gather competitive intelligence and information about social, cultural, demographic, environmental, economic, political, legal, governmental, and technological trends.

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Quizplus · Accepted Answer

This statement is true. Before conducting an external audit, a company needs to gather information about various external factors that could affect its business operations and performance. These factors include competitive intelligence and information on social, cultural, demographic, environmental, economic, political, legal, governmental, and technological trends. Only by understanding these external factors can a company develop strategies to effectively compete and succeed in the marketplace.

To Perform an External Audit, a Company First Must Gather