To Perform an External Audit, a Company First Must Gather

question 2

True/False

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

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Definitions:

Joint Venture

Involves the joining together of parts of companies to accomplish specific, limited objectives. Joint ventures are controlled by the combined management of the two (or more) parent companies.

Independent Companies

Firms that operate independently without being owned or controlled by another entity or conglomerate.

Specific Objective

A clearly defined and measurable goal that an organization or individual aims to achieve.

Resources

Assets or inputs used to produce goods and services, including natural, human, and capital resources.