Which principle emphasizes the need for auditor independence?

The principle that emphasizes the need for auditor independence is objectivity. This principle requires auditors to remain impartial and unbiased in their evaluations, ensuring that their judgments and decisions are based solely on factual evidence and professional standards, rather than influenced by personal interests or relationships.

Independence is critical in the auditing profession because it helps to maintain public trust in the integrity of the audit process. An auditor’s ability to provide an unbiased opinion on the financial statements or operations of an entity hinges on their objectivity. If auditors lack objectivity, it can lead to compromised audit outcomes, which could mislead stakeholders and the public.

While professional skepticism is also important in the auditing process, it primarily relates to the attitude of the auditor in questioning the integrity of information presented and not taking assertions at face value. Transparency and confidentiality, on the other hand, pertain to the disclosure of information and protecting sensitive information, respectively, rather than directly addressing the auditor's independence in their work. Overall, the objectivity principle forms the backbone of an auditor’s ability to serve as a reliable and credible evaluator, which underscores the necessity of independence in auditing.