Internal Audit Charter Checklist

Mandatory Requirements
Assessment Comments
Standard 1000 and Standard 1010
There is an Internal Audit Charter. Yes No
Charter formally defines:
 Purpose. Yes No
 Authority. Yes No
 Responsibility. Yes No
Charter recognises :
 Core Principles. Yes No
 Definition of Internal Auditing. Yes No
 Code of Ethics. Yes No
 The Standards. Yes No
Charter is:
 Periodically reviewed. Yes No
 Presented and discussed with senior Yes No
management and the Audit
Committee.
 Approved by the Audit Committee. Yes No
Charter defines the nature of Internal
Audit work:
 Assurance services. Yes No
 Consulting services. Yes No

Good Practice Assessment Comments

Charter mentions the Internal Audit Yes No

Mission.
Charter establishes Internal Audit’s Yes No
position within the organisation.
Charter specifies good practice
reporting arrangements:
 Functionally for operations to the Yes No
Audit Committee through the Chair.
 Administratively to the Chief Yes No
Executive Officer.
Charter specifies independence Yes No
arrangements for Internal Audit.
Charter defines the scope of Internal Yes No
Audit activities.
Charter authorises full, free, and Yes No
unrestricted access to all records, data,
personnel, and assets at the time they
are relevant for performance of internal
audit engagements.

Copyright © 2017 by The Institute of Internal Auditors–Australia

Mandatory Requirements
Assessment Comments
Standard 1000 and Standard 1010
Charter specifies periodic review of Yes No
Internal Audit performance.
Where Internal Audit is responsible for Yes No
non-audit duties, there is independence
safeguards specified in the charter
(Standard 1112.
Further Comments
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Copyright © 2017 by The Institute of Internal Auditors–Australia