What does an internal audit charter contain, Auditing

This charter defines the mission, independence and objectivity, scope and responsibilities, authority, accountability and standards of the Internal Audit function.


A charter is basically a delegation / grant of authority from a person or organization of authority to one another person or organization. The purpose of an internal audit charter is to compel the departments that require to be audited to give the information needed by the auditor. Without this charter or same authority most managers wouldn't see any advantage to being audited and would likely refuse to provide anything the auditor required.

 

Posted Date: 3/30/2013 6:31:46 AM | Location : United States







Related Discussions:- What does an internal audit charter contain, Assignment Help, Ask Question on What does an internal audit charter contain, Get Answer, Expert's Help, What does an internal audit charter contain Discussions

Write discussion on What does an internal audit charter contain
Your posts are moderated
Related Questions
Reference to an expert in the Auditor's Report When issuing an unmodified auditors report, the auditor should not refer to the work of the expert.  This is because such a refe

how do internal controls affect or improve the goals of a bussiness firm

Existence - Detailed Audit of Stock In the previous the auditor accepted a director's certificate as to the existence of stocks.  Until some cases specifically in the United S

Share Capital - Audit Process Share capital is a special type of liability and when it has been issued during the year then verification procedures are as follows: 1. Confirm

Question: "The planning, testing, and evaluation of audit evidence for indicia of fraud are unlikely to be successful without that attitude, particularly because fraud is a cri

Accounting Principles and Policies The user of the accounts expects that the accounting principles and policies used will be in conformity with IAS, be generally accepted, be

advantage and disadvantage of joint auditor?

The modern integrated audit approach combines elements of various traditional audit areas having financial, operational, and information technology.

For each threat explain how it might be avoided.

Problem : As per the Field Standard (INTOSAI), competent, relevant and reasonable evidence should be obtained to support the auditor judgement and conclusions regarding the org