Final answer:
Efficiency in audit activities is increased by partnering with organizations, promoting diversity, and combining resources.
Step-by-step explanation:
Coordinating internal and external audit activities can increase efficiency through a few key strategies. First and foremost, by partnering with organizations there is an opportunity for expanded outreach. This partnership can leverage marketing to multiple networks, which can ensure a wider and more inclusive audit scope. Additionally, such coordination promotes diversity among attendees involved in the audit process, leading to a range of perspectives that can enrich the audit outcomes.
Another significant advantage is the combination of resources which can be more cost-effective. Sharing resources means reduced duplication of effort and allows for the sharing of best practices between internal and external auditors. Finally, experts involved in the audits often have a good intuition about potential issues, which acts as a preventive measure against mistakes and enforces a thorough examination of the records and practices being audited.