One main difference between objectivity and independence is that objectivity is an attribute of the auditor and independence is an attribute of internal auditing. Any auditor can be objective. They can be a completely unbiased and honest person, but that alone does not suffice. Placing any objective person into an internal audit function that is not independent could greatly affect that person.
Losing independence from the definition and the standards would have a dramatic affect on internal auditing. Objective auditors could be placed in situations which would put their unbiased judgment at risk. Management would not have the same level of trust with their internal