The correct option is External regulatory agencies.

External regulatory agencies are typically not directly engaged in collecting functional and operational requirements during the early phase. They establish compliance obligations and standards that the organization must follow, but they do not participate in internal requirement gathering or stakeholder interviews. The company usually interprets applicable regulations and translates them into internal controls and requirements rather than having the agencies collect those requirements directly.

Internal audit teams are internal stakeholders who review controls and evidence and they are often involved early to ensure auditability and compliance readiness. They help shape operational requirements around logging, monitoring, and control evidence.

Executive leadership sets strategic priorities and approves budgets and they are typically engaged early to align the platform with business objectives and risk appetite. Their input is necessary to define scope and nonfunctional requirements.

Product end users provide the core functional requirements because they will use the systems and their needs drive features, performance, and usability expectations. They are direct participants in requirement gathering.

Full AWS Practitioner Certification Question