Does the internal audit service have the appropriate status, clarity of role and independence to fulfil its professional remit? Statements of good practice An internal audit Charter defines the purpose, authority and responsibility, within the organisation, consistent with the Definition of Internal Auditing, the Code of Ethics and the Standards The internal audit Charter is approved by the AO and the Board and is regularly reviewed, and communicated to all senior management and other relevant people The Charter defines the nature and scope of the assurance and consulting services provided to the organisation (including any assurances provided to parties outside of the organisation) is such that it can provide independent and objective assurance and is not part of the direct control framework The Charter clearly defines internal audit's role in evaluating and contributing to the development of risk management, control and governance processes Internal audit’s role in relation to any fraud-related / investigations work is clearly defined within the Charter.
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