This six-sample Corporate Audit Department Charter document is an essential resource for any organization as it outlines the structure, roles and responsibilities of an audit department. It can be used to establish a robust internal audit function and guide how it should operate within the organization. The charter sets out critical factors such as the audit department's mission statement, objectives, independence, access to company activities and reporting protocols. Furthermore, it provides sample charters that can serve as models for different scenarios or types of organizations.

Sample 1 of the Corporate Audit Department Charter emphasizes providing value-added services to stakeholders by assessing risks related to strategic objectives and growth plans. The section highlights the importance of partnering with financial and operational executives, developing a risk-based audit plan, promoting risk awareness, evaluating controls, and advising on improvements. The corporate audit department’s mission is to provide company stakeholders with value-added services by:

• Assessing the risks associated with the company’s strategic objectives, growth plans and related risks
• Partnering with financial and operational executives to understand their internal control environments, risks and risk mitigation activities
• Developing and executing an audit plan that addresses these risks
• Promoting an overall risk and control awareness in the company