What is a significant advantage of using external audits compared to internal audits?

A significant advantage of using external audits compared to internal audits is the possibility of greater objectivity. External auditors are independent of the organization being audited, which allows them to provide an unbiased evaluation of the processes, compliance, and overall effectiveness of operations. This independence helps in identifying issues that internal auditors, who may have relationships and familiarity with the organization, might overlook due to potential biases or conflicts of interest.

In contrast, internal auditors might have a vested interest in the outcome of their audits since they are part of the organization. They may avoid reporting negative findings out of concern for their colleagues or the organization's reputation. Therefore, external audits foster a higher level of trust in the findings and recommendations provided, which can be crucial for stakeholders and regulatory compliance.

While lower costs, accessibility for all staff, and extended duration of audit periods can be relevant factors in assessing audits, they do not inherently provide the same level of unbiased perspective that external audits tend to offer. These other aspects can vary widely depending on the specific circumstances of an organization and are not universally recognized as advantages of external audits over internal ones.