This sample provides guidelines for creating an internal audit charter.
The audit charter is usually prepared in the first year of an internal audit contract. The Statement of Responsibilities of Internal Auditing is the general foundation upon which the charter is developed. The charter establishes the audit function’s reporting position within the organization; authorizes access to records, personnel and physical properties relevant to the performance of audits; and defines the scope of audit activities. Management support for internal audit, as defined in the audit charter, should be clearly communicated in a policy statement.