Which type of audit is performed by independent professionals?

The correct answer is external audit. An external audit is conducted by independent professionals who are not part of the organization being audited. This independence is crucial because it ensures an unbiased assessment of the company's financial statements and compliance with accounting standards. External auditors provide an objective evaluation of financial records, helping instill confidence among stakeholders such as investors, creditors, and regulatory bodies regarding the accuracy and reliability of the financial reporting.

In contrast, an internal audit is carried out by employees of the organization or contracted internal auditors. This type of audit focuses on evaluating risk management, internal controls, and governance processes, with the aim of improving the operations of the organization. A management audit assesses the effectiveness of the organization's management practices but is also typically performed by in-house personnel or consultants.

An operational audit evaluates the efficiency and effectiveness of various business operations, and like internal audits and management audits, it is usually conducted by company personnel or hired consultants rather than independent outsiders.