Why is independence essential for internal auditors?

Independence is essential for internal auditors because it ensures objectivity and impartiality in conducting audits. When internal auditors operate independently, they are more likely to provide unbiased assessments of the organization's processes, controls, and risks. This impartial standpoint is crucial for maintaining the integrity of the audit findings and recommendations. A lack of independence may lead to conflicts of interest, potentially compromising the auditor's ability to report issues accurately and honestly. By being independent, internal auditors can evaluate operations and provide insights without external pressures or influences, ensuring the effectiveness and reliability of the audit function.

The other statements, such as creating conflicts of interest, preventing collaboration with external auditors, or dismissing the importance of independence, do not align with the fundamental principles guiding the practice of internal auditing. Being free from bias is foundational to the auditor's role in safeguarding the organization's assets and supporting good governance practices.