Why might a company choose to hire a third party for an audit?

Hiring a third party for an audit often provides a company with a more independent assessment. This independence is vital in ensuring that the audit's findings are objective, unbiased, and credible. Third-party auditors typically have no vested interest in the operations of the company being audited, which enhances the integrity and value of the audit results. Their outsider perspective can lead to more honest evaluations and can help identify issues that internal auditors may not notice due to familiarity or internal politics.

Independence is essential in fostering trust among stakeholders, including management, employees, and external parties such as investors or regulatory bodies. When a third party conducts the audit, it can reduce concerns about favoritism or internal bias, ultimately leading to more accurate reporting and actionable insights for the organization.

The other choices may represent valid aspects of internal policies and employee feedback, but they do not capture the primary drivers behind hiring an external auditor. Reducing the number of audits or verifying compliance can be achieved internally as well, but the primary aim of seeking third-party assistance lies in securing that unbiased, thorough analysis that supports sound decision-making within the company.