Despite the substantial benefits of internal impact assessments, there is a growing chorus of voices in AI policy discussions advocating for mandatory third-party audits. Supporters argue that external safeguards are needed to promote meaningful transparency and accountability of companies developing and using AI. Policymakers have acknowledged these concerns and introduced legislation with third-party audit requirements, including in Congress, California, and Canada. In some cases, companies may decide that investing the time, energy, and resources necessary to undergo a voluntary third-party AI audit that shows compliance with international standards will help meet important business goals or provide a commercial advantage. In the AI context, however, there are several reasons why mandated third-party audits may not be workable now: (2024) source Unverified