Describe the role of external auditors in compliance.

External auditors play a crucial role in compliance by offering an independent assessment of a company’s adherence to relevant laws, regulations, and internal policies. Their primary function is to evaluate the accuracy of financial statements and the effectiveness of internal controls, which includes compliance with legal and regulatory standards.

This independent review helps ensure transparency and accountability, as it provides stakeholders, including investors and regulatory bodies, with an unbiased opinion on the organization's compliance posture. The findings from external auditors can identify areas of risk or non-compliance, which organizations can then address to mitigate potential legal or financial repercussions.

In contrast, the other roles mentioned in the options involve activities generally conducted by internal staff. Implementing company policies, managing employee performance, and developing internal compliance programs are responsibilities typically reserved for management and compliance officers within the organization. These roles focus on ensuring that regulations are followed through internal mechanisms as opposed to the independent oversight that external auditors provide.