What is the importance of 'independent reviews' in internal controls?

The importance of 'independent reviews' in internal controls lies in their ability to provide an unbiased assessment of these controls. Independent reviews are conducted by third parties or individuals who are not directly involved in the operations being reviewed. This objectivity is crucial because it allows for a fair evaluation of the effectiveness and efficiency of internal controls.

By identifying areas for improvement, such reviews help ensure that the internal controls are functioning as intended to mitigate risks, protect assets, and ensure compliance with applicable laws and regulations. Such an unbiased evaluation can also reinforce the integrity of the internal processes, leading to greater stakeholder confidence in the organization's financial reporting and operational reliability. This makes option B the most relevant and significant aspect of independent reviews in the context of internal controls.