Which of the following should be considered FIRST when assessing the implications of new external regulations on IT compliance?

When new external regulations impact IT compliance, the initial step is to understand how these regulations will affect the enterprise's existing operational framework. This means identifying which current IT policies and procedures are no longer adequate or need to be updated to meet the new legal and regulatory obligations, forming the basis for subsequent actions.

While the resource burden for implementation is important, it's a subsequent consideration *after* understanding what changes are needed to policies and procedures.

Gaps in skills and experience are important for implementation planning but come after the foundational assessment of policy and procedure alignment.

The impact on contracts with service providers is a critical consideration but typically follows the initial assessment of internal policy alignment, as it dictates what contractual changes might be necessary.