Vital Components of an Internal Audit Charter
One of the great challenges every organization faces is assuring efficient and effective risk management (policies and processes designed to leverage or mitigate risks to the organization’s advantage). When done well, internal audit provides that assurance as part of its role to protect and enhance organizational value. For internal audit to operate at the highest levels, it must have clearly defined and articulated marching orders from the governing body and management. This is most easily achieved with a well-designed internal audit charter. The IIA’s Perspective Every organization can benefit from internal audit, and an internal audit charter is vital to [...]