Template - Internal Audit Charter
 
About this template
The Internal Audit Charter details the role and responsibilities within an organisation. The Charter is a requirement of the International Standards for the Professional Practice of Internal Auditing (Standards). 
 
The IIA also has a great template / example Internal Audit Charter which may be more appropriate for your and your audit department. A copy of their example Internal Audit Charter can be accessed here for free.
 
This template provides only one way to lay out your Internal Audit Charter as well as the headers which should be factored into your Charter. It does not provide the content, as this should be relevant and appropriate to your organisation.
 
Why use this template
An Internal Audit Charter helps ensure the audit team and business are aligned and understand the role and responsibilities of the Internal Audit function. The Internal Audit Code of Practice also suggests that the Internal Audit Charter be published, making it publicly available. This template has been designed to be both easy to understand, but also engaging and aligned to the Standards.
 
When to use this template
This template should be used from the moment an audit function is established and should be reviewed annually, with senior management / Board approval.
 
Things to be careful about
Should you be required to publish your Internal Audit Charter, as per the Code of Practice, care should be taken to ensure it is easy to understand and manages expectations. Because of this, only example headers have been provided, with audit teams taking responsibility for developing the content and any additional headers for the Charter.